0001593034-24-000007 | 10-K | XBRL Viewer

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DEBT - Maturities of Long-Term Debt (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Maturities
2024	$ 394,600
2025	41,578
2026	222,600
2027	2,976,069
2028	3,125,416
Revolving Credit Facility
Maturities
2025	$ 74,600

SEGMENT RESULTS (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Net revenues from external customers:
Branded Pharmaceuticals	$	859,087	$	851,142	$	893,617
Sterile Injectables	429,563		589,633		1,266,097
Generic Pharmaceuticals	650,352		795,457		740,586
International Pharmaceuticals (1)	72,516		82,643		92,906
Total net revenues from external customers	$	2,011,518	$	2,318,875	$	2,993,206
Segment adjusted income from continuing operations before income tax:
Branded Pharmaceuticals	$	459,309	$	366,554	$	384,186
Sterile Injectables	157,179		349,424		998,453
Generic Pharmaceuticals	237,870		336,133		160,046
International Pharmaceuticals	16,733		19,920		30,325
Total segment adjusted income from continuing operations before income tax	$	871,091	$	1,072,031	$	1,573,010

__________

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

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, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Total consolidated loss from continuing operations before income tax	$	(2,391,924)	$	(2,888,102)	$	(546,603)
Interest expense, net	—		349,776		562,353
Corporate unallocated costs (1)	158,717		182,335		180,866
Amortization of intangible assets	255,933		337,311		372,907

Acquired in-process research and development charges	—		68,700		25,120
Amounts related to continuity and separation benefits, cost reductions and strategic review initiatives (2)	44,098		198,381		90,912
Certain litigation-related and other contingencies, net (3)	1,611,090		478,722		345,495
Certain legal costs (4)	7,256		31,756		136,148
Asset impairment charges (5)	503		2,142,746		414,977
Acquisition-related and integration items, net (6)	1,972		408		(8,379)
Loss on extinguishment of debt	—		—		13,753

Foreign currency impact related to the remeasurement of intercompany debt instruments	2,159		(5,328)		797
Reorganization items, net (7)	1,169,961		202,978		—
Other, net (8)	11,326		(27,652)		(15,336)
Total segment adjusted income from continuing operations before income tax	$	871,091	$	1,072,031	$	1,573,010

__________

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

(2)Amounts in 2023 include net employee separation, continuity and other benefit-related charges of $43.7 million and other net charges of $0.4 million. Amounts in 2022 include net employee separation, continuity and other benefit-related charges of $85.6 million, accelerated depreciation charges of $3.8 million, inventory charges related to restructurings of $36.4 million and other net charges, including those related to review initiatives, of $72.7 million. Amounts in 2021 include net employee separation, continuity and other benefit-related charges of $8.8 million, accelerated depreciation charges of $24.7 million and other net charges, including those related to strategic review initiatives, of $57.4 million. These amounts relate primarily to our restructuring activities as further described in Note 5. Restructuring, certain continuity and transitional compensation arrangements, certain other cost reduction initiatives and certain strategic review initiatives, including costs incurred in connection with our bankruptcy proceedings, which are included in this row until the Petition Date and in the Reorganization items, net row thereafter.

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

(4)Amounts relate to opioid-related legal expenses. The amount in 2022 reflects the recovery of certain previously-incurred opioid-related legal expenses.

(5)Amounts primarily relate to charges to impair goodwill and intangible assets, property, plant and equipment, operating lease right-of-use assets and certain disposal group assets. For additional information, refer to Note 4. Discontinued Operations and Asset Sales, Note 5. Restructuring, Note 7. Fair Value Measurements, Note 10. Property, Plant and Equipment and Note 11. Goodwill and Other Intangibles.

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

(7)Amounts relate to the net expense or income recognized during our bankruptcy proceedings required to be presented as Reorganization items, net under ASC 852. Refer to Note 2. Bankruptcy Proceedings for further details.

(8)Amounts in 2023 primarily relates to a charge of approximately $9.2 million associated with the rejection of certain equity award agreements, which was approved by the Bankruptcy Court in March 2023. Amounts in 2021 include gains of $15.5 million associated with the termination of certain contracts, partially offset by $3.9 million of third-party fees incurred in connection with the March 2021 Refinancing Transactions, which were accounted for as debt modification costs as further discussed in Note 15. Debt. Other amounts in this row relate to gains and losses on sales of business and other assets and certain other items.

The following represents depreciation expense for our reportable segments for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023		2022		2021

Branded Pharmaceuticals	$	9,252	$	9,862	$	10,632
Sterile Injectables	22,652		20,224		17,796
Generic Pharmaceuticals	11,829		16,952		47,343
International Pharmaceuticals	3,561		3,638		4,242
Corporate unallocated	3,221		3,642		4,178
Total depreciation expense	$	50,515	$	54,318	$	84,191

Schedule of 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.



	2023		2022		2021
Branded Pharmaceuticals:
Specialty Products:
XIAFLEX®	$	475,014	$	438,680	$	432,344
SUPPRELIN® LA	96,849		113,011		114,374
Other Specialty (1)	73,797		70,009		86,432
Total Specialty Products	$	645,660	$	621,700	$	633,150
Established Products:
PERCOCET®	$	106,375	$	103,943	$	103,788
TESTOPEL®	42,464		38,727		43,636

Other Established (2)	64,588		86,772		113,043
Total Established Products	$	213,427	$	229,442	$	260,467
Total Branded Pharmaceuticals (3)	$	859,087	$	851,142	$	893,617
Sterile Injectables:
ADRENALIN®	$	99,910	$	114,304	$	124,630
VASOSTRICT®	93,180		253,696		901,735


Other Sterile Injectables (4)	236,473		221,633		239,732
Total Sterile Injectables (3)	$	429,563	$	589,633	$	1,266,097
Total Generic Pharmaceuticals (5)	$	650,352	$	795,457	$	740,586
Total International Pharmaceuticals (6)	$	72,516	$	82,643	$	92,906
Total revenues, net	$	2,011,518	$	2,318,875	$	2,993,206

__________

(1)Products included within Other Specialty include AVEED®, NASCOBAL® Nasal Spray and QWO®.

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

(3)Individual products presented above represent the top two performing products in each product category for the year ended December 31, 2023 and/or any product having revenues in excess of $25 million during any completed quarterly period in 2023 or 2022.

(4)Products included within Other Sterile Injectables include, but are not limited to, APLISOL®. No individual product within Other Sterile Injectables has exceeded 5% of consolidated total revenues for the periods presented.

(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 limited or no intellectual property protection and are sold within the U.S. Varenicline tablets (Endo’s generic version of Pfizer Inc.’s Chantix®), which launched in September 2021, made up 8% and 13% for the years ended December 31, 2023 and 2022, respectively, of consolidated total revenues. Dexlansoprazole delayed release capsules (Endo’s generic version of Takeda Pharmaceuticals USA, Inc.’s Dexilant®), which launched in November 2022, made up 6% for the year ended December 31, 2023 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 Endo’s operating company Paladin.

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Total depreciation expense	$ 50,515	$ 54,318	$ 84,191
Asset impairment charges of long-lived assets	$ 500	9,000	$ 2,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset impairments
India
Property, Plant and Equipment
Total property, plant and equipment, net	$ 226,000	$ 205,200

SEGMENT RESULTS- Schedule of Depreciation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information
Total depreciation expense	$ 50,515	$ 54,318	$ 84,191
Operating Segments \| Branded Pharmaceuticals
Segment Reporting Information
Total depreciation expense	9,252	9,862	10,632
Operating Segments \| Sterile Injectables
Segment Reporting Information
Total depreciation expense	22,652	20,224	17,796
Operating Segments \| Generic Pharmaceuticals
Segment Reporting Information
Total depreciation expense	11,829	16,952	47,343
Operating Segments \| International Pharmaceuticals
Segment Reporting Information
Total depreciation expense	3,561	3,638	4,242
Corporate unallocated
Segment Reporting Information
Total depreciation expense	$ 3,221	$ 3,642	$ 4,178

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
TOTAL REVENUES, NET	$ 2,011,518	$ 2,318,875	$ 2,993,206
COSTS AND EXPENSES:
Cost of revenues	946,415	1,092,499	1,221,064
Selling, general and administrative	567,727	777,169	861,760
Research and development	115,462	128,033	123,440
Acquired in-process research and development	0	68,700	25,120
Litigation-related and other contingencies, net	1,611,090	478,722	345,495
Asset impairment charges	503	2,142,746	414,977
Acquisition-related and integration items, net	1,972	408	(8,379)
Interest expense, net	0	349,776	562,353
Loss on extinguishment of debt	0	0	13,753
Reorganization items, net	1,169,961	202,978	0
Other income, net	(9,688)	(34,054)	(19,774)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	(2,391,924)	(2,888,102)	(546,603)
INCOME TAX EXPENSE	55,862	21,516	22,478
LOSS FROM CONTINUING OPERATIONS	(2,447,786)	(2,909,618)	(569,081)
DISCONTINUED OPERATIONS, NET OF TAX (NOTE 4)	(2,021)	(13,487)	(44,164)
NET LOSS	$ (2,449,807)	$ (2,923,105)	$ (613,245)
NET LOSS PER SHARE—BASIC:
Continuing operations (in dollars per share)	$ (10.41)	$ (12.39)	$ (2.44)
Discontinued operations (in dollars per share)	(0.01)	(0.06)	(0.19)
Basic (in dollars per share)	(10.42)	(12.45)	(2.63)
NET LOSS PER SHARE—DILUTED:
Continuing operations (in dollars per share)	(10.41)	(12.39)	(2.44)
Discontinued operations (in dollars per share)	(0.01)	(0.06)	(0.19)
Diluted (in dollars per share)	$ (10.42)	$ (12.45)	$ (2.63)
WEIGHTED AVERAGE SHARES:
Basic (in shares)	235,219	234,840	232,785
Diluted (in shares)	235,219	234,840	232,785

SEGMENT RESULTS

12 Months Ended

Dec. 31, 2023

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 chief operating decision maker 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 acquired in-process research and development charges; 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; certain amounts related to strategic review initiatives; 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; reorganization items, net; and certain other items.

Certain 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 in the areas of urology, orthopedics, endocrinology and bariatrics, among others. Products in this segment include XIAFLEX®, SUPPRELIN® LA, AVEED®, NASCOBAL® Nasal Spray, PERCOCET®, TESTOPEL® and EDEX®, among others.

Sterile Injectables

Our Sterile Injectables segment consists primarily of branded sterile injectable products such as ADRENALIN®, VASOSTRICT® and APLISOL®, among others, and certain generic sterile injectable products.

Generic Pharmaceuticals

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

International Pharmaceuticals

Our International Pharmaceuticals segment includes a variety of specialty pharmaceutical products, including OTC products, sold outside the U.S., primarily in Canada through our operating company Paladin.

The following represents selected information for the Company’s reportable segments for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Net revenues from external customers:
Branded Pharmaceuticals	$	859,087	$	851,142	$	893,617
Sterile Injectables	429,563		589,633		1,266,097
Generic Pharmaceuticals	650,352		795,457		740,586
International Pharmaceuticals (1)	72,516		82,643		92,906
Total net revenues from external customers	$	2,011,518	$	2,318,875	$	2,993,206
Segment adjusted income from continuing operations before income tax:
Branded Pharmaceuticals	$	459,309	$	366,554	$	384,186
Sterile Injectables	157,179		349,424		998,453
Generic Pharmaceuticals	237,870		336,133		160,046
International Pharmaceuticals	16,733		19,920		30,325
Total segment adjusted income from continuing operations before income tax	$	871,091	$	1,072,031	$	1,573,010

__________

(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.



	2023		2022		2021
Total consolidated loss from continuing operations before income tax	$	(2,391,924)	$	(2,888,102)	$	(546,603)
Interest expense, net	—		349,776		562,353
Corporate unallocated costs (1)	158,717		182,335		180,866
Amortization of intangible assets	255,933		337,311		372,907

Acquired in-process research and development charges	—		68,700		25,120
Amounts related to continuity and separation benefits, cost reductions and strategic review initiatives (2)	44,098		198,381		90,912
Certain litigation-related and other contingencies, net (3)	1,611,090		478,722		345,495
Certain legal costs (4)	7,256		31,756		136,148
Asset impairment charges (5)	503		2,142,746		414,977
Acquisition-related and integration items, net (6)	1,972		408		(8,379)
Loss on extinguishment of debt	—		—		13,753

Foreign currency impact related to the remeasurement of intercompany debt instruments	2,159		(5,328)		797
Reorganization items, net (7)	1,169,961		202,978		—
Other, net (8)	11,326		(27,652)		(15,336)
Total segment adjusted income from continuing operations before income tax	$	871,091	$	1,072,031	$	1,573,010

__________

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

(4)Amounts relate to opioid-related legal expenses. The amount in 2022 reflects the recovery of certain previously-incurred opioid-related legal expenses.

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

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, 2023, 2022 and 2021, 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.



	2023		2022		2021
Branded Pharmaceuticals:
Specialty Products:
XIAFLEX®	$	475,014	$	438,680	$	432,344
SUPPRELIN® LA	96,849		113,011		114,374
Other Specialty (1)	73,797		70,009		86,432
Total Specialty Products	$	645,660	$	621,700	$	633,150
Established Products:
PERCOCET®	$	106,375	$	103,943	$	103,788
TESTOPEL®	42,464		38,727		43,636

Other Established (2)	64,588		86,772		113,043
Total Established Products	$	213,427	$	229,442	$	260,467
Total Branded Pharmaceuticals (3)	$	859,087	$	851,142	$	893,617
Sterile Injectables:
ADRENALIN®	$	99,910	$	114,304	$	124,630
VASOSTRICT®	93,180		253,696		901,735


Other Sterile Injectables (4)	236,473		221,633		239,732
Total Sterile Injectables (3)	$	429,563	$	589,633	$	1,266,097
Total Generic Pharmaceuticals (5)	$	650,352	$	795,457	$	740,586
Total International Pharmaceuticals (6)	$	72,516	$	82,643	$	92,906
Total revenues, net	$	2,011,518	$	2,318,875	$	2,993,206

__________

(1)Products included within Other Specialty include AVEED®, NASCOBAL® Nasal Spray and QWO®.

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

The following represents depreciation expense for our reportable segments for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023		2022		2021

Branded Pharmaceuticals	$	9,252	$	9,862	$	10,632
Sterile Injectables	22,652		20,224		17,796
Generic Pharmaceuticals	11,829		16,952		47,343
International Pharmaceuticals	3,561		3,638		4,242
Corporate unallocated	3,221		3,642		4,178
Total depreciation expense	$	50,515	$	54,318	$	84,191

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Total property, plant and equipment, gross	$ 840,695	$ 779,780
Less: accumulated depreciation	(364,455)	(341,466)
Total property, plant and equipment, net	476,240	438,314
Land and buildings
Property, Plant and Equipment
Total property, plant and equipment, gross	243,679	239,207
Machinery and equipment
Property, Plant and Equipment
Total property, plant and equipment, gross	251,895	241,930
Leasehold improvements
Property, Plant and Equipment
Total property, plant and equipment, gross	41,074	54,388
Computer equipment and software
Property, Plant and Equipment
Total property, plant and equipment, gross	97,782	92,566
Furniture and fixtures
Property, Plant and Equipment
Total property, plant and equipment, gross	8,595	9,129
Assets under construction
Property, Plant and Equipment
Total property, plant and equipment, gross	$ 197,670	$ 142,560

GOODWILL AND OTHER INTANGIBLES - Schedule of Estimated Amortization of Intangibles (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 246,050
2025	232,930
2026	209,784
2027	134,322
2028	$ 112,476

ACCOUNTS PAYABLE AND ACCRUED EXPENSES - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Payable and Accrued Liabilities, Current [Abstract]
Trade accounts payable	$ 94,735	$ 109,033
Returns and allowances	119,577	160,619
Rebates	105,428	167,516
Other sales deductions	3,212	7,116
Accrued payroll and related benefits	81,145	95,666
Accrued royalties and other distribution partner payables	35,856	24,072
Other	97,783	123,161
Total	$ 537,736	$ 687,183

LEASES - Weighted Average Remaining Lease Term And Weighted Average Discount Rates (Details)	Dec. 31, 2023	Dec. 31, 2022
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	4 years 8 months 12 days	4 years 10 months 24 days
Finance leases	13 years 4 months 24 days	9 years 10 months 24 days
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	6.20%	6.10%
Finance leases	7.30%	7.50%

SAVINGS AND INVESTMENT PLAN AND DEFERRED COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
SAVINGS AND INVESTMENT PLAN AND DEFERRED COMPENSATION PLANS	NOTE 24. 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 $5.7 million, $6.5 million and $7.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.

SHARE-BASED COMPENSATION - Activity Under Stock Incentive Plans (Details) - Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Non-vested, beginning balance (in shares)	4,979,827	8,141,110	10,340,279
Granted (in shares)		280,373	4,483,385
Forfeited (in shares)	(4,960,249)	(1,116,960)	(1,302,292)
Vested (in shares)	(19,578)	(2,324,696)	(5,380,262)
Non-vested, ending balance (in shares)	0	4,979,827	8,141,110
Vested and expected to vest, end of period (in shares)	0
Aggregate Intrinsic Value
Outstanding, end of period	$ 0
Vested and expected to vest	$ 0

INCOME TAXES - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
U.S. Federal	$ 44,304	$ 21,057	$ 13,649
U.S. State	2,900	1,731	1,491
International	3,956	6,031	10,495
Total current income tax	51,160	28,819	25,635
Deferred:
U.S. Federal	5,126	(622)	118
U.S. State	451	1,065	(564)
International	(875)	(7,746)	(2,711)
Total deferred income tax	4,702	(7,303)	(3,157)
Income tax	$ 55,862	$ 21,516	$ 22,478

LICENSE, COLLABORATION AND ASSET ACQUISITION AGREEMENTS (Details) $ in Millions	1 Months Ended		3 Months Ended
	Aug. 31, 2022 product	May 31, 2022 USD ($) project	Jun. 30, 2022 USD ($)
Nevakar Injectables, Inc
Collaborative Arrangement and Arrangement Other than Collaborative
Number of in process research and development projects acquired \| project		6
Acquired in-process research and development \| $		$ 35.0
Number of product licenses revoked (product) \| product	2
Number of product licenses (product) \| product	3
TLC Agreement
Collaborative Arrangement and Arrangement Other than Collaborative
Acquired in-process research and development \| $			$ 30.0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment, Developed Technology and License Rights (Details)	Dec. 31, 2023
Machinery and equipment
Property, Plant and Equipment
Useful life (year)	15 years
Computer equipment and software
Property, Plant and Equipment
Useful life (year)	10 years
Furniture and fixtures
Property, Plant and Equipment
Useful life (year)	10 years
Minimum \| Developed Technology
Property, Plant and Equipment
Intangible life (years)	6 years
Minimum \| Licensing
Property, Plant and Equipment
Intangible life (years)	7 years
Minimum \| Building
Property, Plant and Equipment
Useful life (year)	1 year
Maximum \| Developed Technology
Property, Plant and Equipment
Intangible life (years)	16 years
Maximum \| Licensing
Property, Plant and Equipment
Intangible life (years)	15 years
Maximum \| Building
Property, Plant and Equipment
Useful life (year)	30 years
Weighted Average
Property, Plant and Equipment
Intangible life (years)	12 years
Weighted Average \| Developed Technology
Property, Plant and Equipment
Intangible life (years)	12 years
Weighted Average \| Licensing
Property, Plant and Equipment
Intangible life (years)	14 years

CONTRACT ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of 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, 2023		December 31, 2022		$ Change		% Change
Contract assets (1)	$	11,387	$	8,193	$	3,194	39	%
Contract liabilities (2)	$	3,534	$	4,099	$	(565)	(14)	%

__________

(1)At December 31, 2023 and December 31, 2022, approximately $2.1 million and $1.5 million, respectively, of these contract asset amounts are classified as current and are included in Prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets. The remaining amounts are classified as noncurrent and are included in Other assets.

(2)At both December 31, 2023 and December 31, 2022, approximately $0.6 million 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. During the year ended December 31, 2023, approximately $0.6 million of revenue was recognized that was included in the contract liability balance at December 31, 2022.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Loss from Continuing Operations

The components of our Loss from continuing operations before income tax by geography for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):


	2023		2022		2021
U.S.	$	(1,609,064)	$	(2,429,315)	$	4,792,852
International	(782,860)		(458,787)		(5,339,455)
Total loss from continuing operations before income tax	$	(2,391,924)	$	(2,888,102)	$	(546,603)

Schedule of Components of Income (Loss) Tax Benefit

Income tax from continuing operations consists of the following for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023		2022		2021
Current:
U.S. Federal	$	44,304	$	21,057	$	13,649
U.S. State	2,900		1,731		1,491
International	3,956		6,031		10,495
Total current income tax	$	51,160	$	28,819	$	25,635
Deferred:
U.S. Federal	$	5,126	$	(622)	$	118
U.S. State	451		1,065		(564)
International	(875)		(7,746)		(2,711)
Total deferred income tax	$	4,702	$	(7,303)	$	(3,157)


Total income tax	$	55,862	$	21,516	$	22,478

Schedule of Reconciliation of Income Tax

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, 2023, 2022 and 2021 is as follows (in thousands):


	2023		2022		2021
Notional U.S. federal income tax provision at the statutory rate	$	(502,304)	$	(606,502)	$	(114,787)
State income tax, net of federal benefit	3,283		(9,517)		6,750

Uncertain tax positions	32,191		21,930		42,415
Residual tax on non-U.S. net earnings	(610,200)		(32,257)		(181,739)


Non-deductible goodwill impairment	—		385,459		76,230
Change in valuation allowance	6,449,891		306,497		495,565












Non-deductible expenses	109,629		47,221		25,679
Executive compensation limitation	7,254		5,580		6,215
Equity based compensation	4,522		3,247		2,695
Financing activities (1)	(3,035,598)		73,629		(287,012)
Investment activities (2)	(2,681,806)		(178,018)		(68,943)
Non-deductible legal settlement	279,216		—		14,112
Other	(216)		4,247		5,298
Income tax	$	55,862	$	21,516	$	22,478

__________

(1)The amount in 2023 primarily relates to tax deductible losses associated with receivables in consolidated subsidiaries. The tax benefit is fully offset by an increase to the valuation allowance. The 2022 amount primarily relates to nondeductible foreign currency gains and losses on intercompany debt.

(2)The amounts in 2023 and 2022 primarily relate to tax deductible losses associated with the investment in consolidated subsidiaries. The tax benefit is fully offset by an increase to the valuation allowance.

Schedule of Deferred Income Taxes

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, 2023 and 2022 are as follows (in thousands):


	December 31, 2023		December 31, 2022
Deferred tax assets:
Accrued expenses and reserves	$	274,424	$	220,415

Deferred interest deduction	492,394		421,552
Fixed assets, intangible assets and deferred amortization	549,715		560,257
Loss on capital assets	4,755		23,511
Net operating loss carryforward	15,478,840		9,214,688
Other	59,145		49,943
Research and development and other tax credit carryforwards	7,402		7,777


Total gross deferred income tax assets	$	16,866,675	$	10,498,143
Deferred tax liabilities:

Other	$	(9,148)	$	(3,156)
Investments	(136)		(107)
Intercompany notes	—		(72,286)

Total gross deferred income tax liabilities	$	(9,284)	$	(75,549)
Valuation allowance	(16,873,639)		(10,436,419)
Net deferred income tax liability	$	(16,248)	$	(13,825)

Schedule of Tax Credit Carryforwards

As of December 31, 2023, the Company had significant deferred tax assets for tax credits, net operating and capital loss carryforwards, net of unrecognized tax positions, as presented below (in thousands):


Jurisdiction	Amount		Begin to Expire
Ireland	$	85,816	Indefinite
Luxembourg	$	15,201,302	2034


U.S.:
Federal-ordinary losses	$	21,132	2037
Federal-capital losses	$	4,010	2024
Federal-tax credits	$	9,768	2024
State-ordinary losses	$	210,249	2024
State-capital losses	$	392	2024
State-tax credits	$	3,256	2037

Schedule of Valuation Allowance

As of December 31, 2023, the Company had the following significant valuation allowances (in thousands):


Jurisdiction	December 31, 2023

Ireland	$	330,465
Luxembourg	$	15,201,530



U.S.	$	1,328,840

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to UTPs during the years ended December 31, 2023, 2022 and 2021 (in thousands):


	Unrecognized Tax Positions Federal, State and Foreign Tax
UTP Balance at December 31, 2020	$	529,775
Gross additions for current year positions	36,662

Gross reductions for prior period positions	(702)
Gross additions for prior period positions	1,203
Decrease due to lapse of statute of limitations	(475)

Currency translation adjustment	(24)
UTP Balance at December 31, 2021	$	566,439
Gross additions for current year positions	20,061


Decrease due to lapse of statute of limitations	(4,451)


Currency translation adjustment	(2,419)
UTP Balance at December 31, 2022	$	579,630
Gross additions for current year positions	12,457


Decrease due to lapse of statute of limitations	(186)

Currency translation adjustment	(199)
UTP Balance at December 31, 2023	$	591,702
Accrued interest and penalties	88,463
Total UTP balance including accrued interest and penalties	$	680,165

Schedule of Income Tax Examinations

As of December 31, 2023, we may be subject to examination in the following major tax jurisdictions:


Jurisdiction						Open Years
Canada						2016 through 2023
India						2012 through 2023
Ireland						2016 through 2023
Luxembourg						2015 through 2023
U.S. - federal, state and local						2006 through 2023

GOODWILL AND OTHER INTANGIBLES - Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-lived intangibles:
Beginning Balance	$ 6,368,537
Acquisitions	0
Other	(10,000)
Effect of Currency Translation	5,641
Ending Balance	6,364,178	$ 6,368,537
Accumulated amortization:
Beginning Balance	(4,635,602)
Amortization	(255,933)
Other	10,000
Effect of Currency Translation	(4,760)
Ending Balance	(4,886,295)	(4,635,602)
Net other intangibles	1,477,883	1,732,935
Licenses
Finite-lived intangibles:
Beginning Balance	442,107
Acquisitions	0
Other	(10,000)
Effect of Currency Translation	0
Ending Balance	432,107	442,107
Accumulated amortization:
Beginning Balance	(424,508)
Amortization	(4,576)
Other	10,000
Effect of Currency Translation	0
Ending Balance	(419,084)	(424,508)
Tradenames
Finite-lived intangibles:
Beginning Balance	6,409
Acquisitions	0
Other	0
Effect of Currency Translation	0
Ending Balance	6,409	6,409
Accumulated amortization:
Beginning Balance	(6,409)
Amortization	0
Other	0
Effect of Currency Translation	0
Ending Balance	(6,409)	(6,409)
Developed Technology
Finite-lived intangibles:
Beginning Balance	5,920,021
Acquisitions	0
Other	0
Effect of Currency Translation	5,641
Ending Balance	5,925,662	5,920,021
Accumulated amortization:
Beginning Balance	(4,204,685)
Amortization	(251,357)
Other	0
Effect of Currency Translation	(4,760)
Ending Balance	$ (4,460,802)	$ (4,204,685)
Weighted Average
Accumulated amortization:
Intangible life (years)	12 years
Weighted Average \| Licenses
Accumulated amortization:
Intangible life (years)	14 years
Weighted Average \| Developed Technology
Accumulated amortization:
Intangible life (years)	12 years

COMMITMENTS AND CONTINGENCIES - Schedule of Deferred Income (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Cumulative grant proceeds received to reimburse asset construction	$ 58,032	$ 18,635
Capex reimbursement receivable, included in Accounts receivable, net	5,514	7,856
Cumulative amounts applied against assets placed in service	(18,922)	0
Deferred Income	44,624	26,491
Assets under construction, gross	58,359	34,950
Assets placed in service, gross	24,898	0
Endo's portion of costs included in Property, plant and equipment, net	$ (19,711)	$ (8,459)

Label	Element	Value
Sterile Injectables Segment [Member]
Goodwill	us-gaap_Goodwill	$ 523,193,000
Branded Pharmaceuticals Segment [Member]
Goodwill	us-gaap_Goodwill	$ 828,818,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

BANKRUPTCY PROCEEDINGS - Reorganization Items (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reorganizations [Abstract]
Professional fees	$ 264,093	$ 113,781
Debt valuation adjustments	905,868	89,197	$ 0
Total	$ 1,169,961	$ 202,978	$ 0

CONTRACT ASSETS AND LIABILITIES - Contract Assets and Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets	$ 11,387	$ 8,193
Contract assets - $ change	$ 3,194
Contract assets - % change	39.00%
Contract liabilities	$ 3,534	4,099
Contract liabilities - $ change	$ (565)
Contract liabilities - % change	(14.00%)
Contract with customer, asset, after allowance for credit loss, current	$ 2,100	1,500
Contract liability amounts classified as current	600	$ 600
Increase in contract liability	$ 600

FAIR VALUE MEASUREMENTS - Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents, current	$ 167,702	$ 145,358
Restricted cash and cash equivalents, noncurrent	85,000	85,000
Total restricted cash and cash equivalents	252,702	230,358
Restricted Cash and Cash Equivalents, Insurance Coverage
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents, current	85,900	86,000
Opioid Related Cases and Mesh Related Cases
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents, current	$ 49,800	$ 50,700

DEBT - Debt Financing Transactions (Details) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
DEBT - Debt Financing Transactions (Details) - USD ($)	Oct. 31, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2022	Feb. 28, 2021
Debt Instrument
Principal amount					$ 8,147,826,000	$ 8,147,826,000
Loss on extinguishment of debt					0	0	$ 13,753,000
Debt issuance costs, gross					56,700,000
Term Loan Facility
Debt Instrument
Long-term debt, gross					$ 30,000,000
Senior Notes
Debt Instrument
Interest rate (as a percent)					1.00%
Long-term debt, maturity repayment deadline	91 days
Revolving Credit Facility
Debt Instrument
Principal amount					$ 277,200,000	277,200,000
Interest rate (as a percent)					2.00%
Debt instrument, extended maturity modification, amount		$ 675,300,000		$ 675,300,000
Deferred debt issuance costs				2,100,000
Proceeds from long-term lines of credit	$ 76,000,000
Repayments of borrowings	$ 22,800,000
Term Loan Facility
Debt Instrument
Long-term debt, gross									$ 3,295,500,000
Proceeds from issuance of debt		2,000,000,000
Principal amount					$ 1,975,000,000	1,975,000,000
Interest rate (as a percent)					2.00%
Extinguishment of debt, amount		1,295,000,000
Loss on extinguishment of debt			$ 7,800,000
Debt Modification Expense		29,200,000
6.125% Senior Secured Notes due 2029
Debt Instrument
Principal amount		$ 1,295,000,000		$ 1,295,000,000	$ 1,295,000,000	$ 1,295,000,000
Interest rate (as a percent)		6.125%		6.125%	6.125%
Loss on extinguishment of debt			$ 6,000,000
Debt issuance costs, gross					$ 17,600,000
6.125% Senior Secured Notes due 2029 \| Selling, general and administrative
Debt Instrument
Loss on extinguishment of debt				$ 3,900,000
2017 Credit Agreement \| Term Loan Facility
Debt Instrument
Principal amount		$ 2,000,000,000		2,000,000,000	$ 2,000,000,000
2017 Credit Agreement \| Revolving Credit Facility
Debt Instrument
Principal amount		$ 1,000,000,000		$ 1,000,000,000
7.25% Senior Notes due 2022
Debt Instrument
Interest rate (as a percent)	7.25%							7.25%
5.75% Senior Notes due 2022
Debt Instrument
Interest rate (as a percent)	5.75%							5.75%

NET LOSS PER SHARE - Computation of Diluted Income Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	5,453	6,584
Stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share (in shares)	5,789	9,256

DEBT - Components of Total Indebtedness (Details) - USD ($)	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Mar. 31, 2021
Debt Instrument
Principal amount	$ 8,147,826,000	$ 8,147,826,000
Carrying amount	7,834,717,000	$ 8,147,826,000
Amortization of debt issuance cost	$ 89,200,000
Revolving Credit Facility
Debt Instrument
Interest rate (as a percent)		2.00%
Effective interest rate (as a percent)	11.00%	12.00%
Principal amount	$ 277,200,000	$ 277,200,000
Carrying amount	$ 265,728,000	$ 277,200,000
5.375% Senior Notes due 2023
Debt Instrument
Interest rate (as a percent)		5.375%
Effective interest rate (as a percent)	5.38%	5.38%
Principal amount	$ 6,127,000	$ 6,127,000
Carrying amount	$ 6,127,000	$ 6,127,000
6.00% Senior Notes due 2023
Debt Instrument
Interest rate (as a percent)		6.00%
Effective interest rate (as a percent)	6.00%	6.00%
Principal amount	$ 56,436,000	$ 56,436,000
Carrying amount	$ 56,436,000	$ 56,436,000
5.875% Senior Secured Notes due 2024
Debt Instrument
Interest rate (as a percent)		5.875%
Effective interest rate (as a percent)	6.88%	6.88%
Principal amount	$ 300,000,000	$ 300,000,000
Carrying amount	$ 286,375,000	$ 300,000,000
6.00% Senior Notes due 2025
Debt Instrument
Interest rate (as a percent)		6.00%
Effective interest rate (as a percent)	6.00%	6.00%
Principal amount	$ 21,578,000	$ 21,578,000
Carrying amount	$ 21,578,000	$ 21,578,000
7.50% Senior Secured Notes due 2027
Debt Instrument
Interest rate (as a percent)		7.50%
Effective interest rate (as a percent)	8.50%	8.50%
Principal amount	$ 2,015,479,000	$ 2,015,479,000
Carrying amount	$ 1,894,774,000	$ 2,015,479,000
9.50% Senior Secured Second Lien Notes due 2027
Debt Instrument
Interest rate (as a percent)		9.50%
Effective interest rate (as a percent)	9.50%	9.50%
Principal amount	$ 940,590,000	$ 940,590,000
Carrying amount	$ 940,590,000	$ 940,590,000
6.00% Senior Notes due 2028
Debt Instrument
Interest rate (as a percent)		6.00%
Effective interest rate (as a percent)	6.00%	6.00%
Principal amount	$ 1,260,416,000	$ 1,260,416,000
Carrying amount	$ 1,260,416,000	$ 1,260,416,000
6.125% Senior Secured Notes due 2029
Debt Instrument
Interest rate (as a percent)		6.125%	6.125%
Effective interest rate (as a percent)	7.13%	7.13%
Principal amount	$ 1,295,000,000	$ 1,295,000,000	$ 1,295,000,000
Carrying amount	$ 1,230,799,000	$ 1,295,000,000
Term Loan Facility
Debt Instrument
Interest rate (as a percent)		2.00%
Effective interest rate (as a percent)	13.50%	14.50%
Principal amount	$ 1,975,000,000	$ 1,975,000,000
Carrying amount	$ 1,871,894,000	$ 1,975,000,000

DISCONTINUED OPERATIONS AND ASSETS SALES (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, including Discontinued Operations, Operations Results of Astora

The following table provides the operating results of Astora Discontinued operations, net of tax, for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Litigation-related and other contingencies, net	$	495	$	—	$	25,000
Loss from discontinued operations before income taxes	$	(2,329)	$	(15,543)	$	(49,594)
Income tax benefit	$	(308)	$	(2,056)	$	(5,430)
Discontinued operations, net of tax	$	(2,021)	$	(13,487)	$	(44,164)

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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+ Details

DISCONTINUED OPERATIONS AND ASSETS SALES - Astora - Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Litigation-related and other contingencies, net	$ 495	$ 0	$ 25,000
(Loss) income from discontinued operations, net of tax	(2,021)	(13,487)	(44,164)
Discontinued Operations, Disposed Of By Means Other Than Sale, Abandonment \| Astora
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Loss from discontinued operations before income taxes	(2,329)	(15,543)	(49,594)
Income tax benefit	(308)	(2,056)	(5,430)
(Loss) income from discontinued operations, net of tax	$ (2,021)	$ (13,487)	$ (44,164)

- 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

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+ 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

INCOME TAXES - Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Unrecognized tax benefits, beginning balance	$ 579,630	$ 566,439	$ 529,775
Gross additions for current year positions	12,457	20,061	36,662
Gross reductions for prior period positions			(702)
Gross additions for prior period positions			1,203
Decrease due to lapse of statute of limitations	(186)	(4,451)	(475)
Currency translation adjustment	(199)	(2,419)	(24)
Unrecognized tax benefits, ending balance	591,702	579,630	$ 566,439
Accrued interest and penalties	88,463	66,700
Total UTP balance including accrued interest and penalties	$ 680,165	$ 646,400

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION-CONDENSED COMBINED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES:
Net cash provided by operating activities	$ 435,098	$ 269,193	$ 411,050
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(94,325)	(99,722)	(77,929)
Capitalized interest payments	0	(3,140)	(2,721)
Proceeds from the U.S. Government Cooperative Agreement	39,397	18,635	0
Acquisitions, including in-process research and development, net of cash and restricted cash acquired	0	(90,320)	(5,000)
Proceeds from sale of business and other assets	5,134	41,400	30,283
Net cash used in investing activities	(49,794)	(133,147)	(59,544)
FINANCING ACTIVITIES:
Repayments of notes	0	(180,342)	0
Repayments of term loans	0	(10,000)	(3,310,475)
Adequate protection payments	(592,759)	(313,109)	0
Repayments of other indebtedness	(6,733)	(6,062)	(5,448)
Payments for contingent consideration	(5,136)	(2,462)	(4,010)
Payments of tax withholding for restricted shares	0	(1,898)	(14,774)
Net cash used in financing activities	(604,628)	(513,873)	(105,481)
Effect of foreign exchange rate	704	(4,242)	285
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	(218,620)	(382,069)	246,310
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,249,241	1,631,310	1,385,000
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	1,030,621	1,249,241	1,631,310
Debtor-in-Possession
OPERATING ACTIVITIES:
Net cash provided by operating activities	416,541	209,523
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(67,149)	(43,743)
Capitalized interest payments	0	(3,140)
Proceeds from the U.S. Government Cooperative Agreement	39,397	18,635
Acquisitions, including in-process research and development, net of cash and restricted cash acquired	0	(90,320)
Proceeds from sale of business and other assets	5,134	41,400
Proceeds from loans made to Non-Debtor Affiliates	1,572	2,355
Disbursements for loans made to Non-Debtor Affiliates	(25,243)	(51,486)
Net cash used in investing activities	(46,289)	(126,299)
FINANCING ACTIVITIES:
Repayments of notes	0	(180,342)
Repayments of term loans	0	(10,000)
Adequate protection payments	(592,759)	(313,109)
Repayments of other indebtedness	(6,733)	(6,062)
Payments for contingent consideration	(5,136)	(2,462)
Payments of tax withholding for restricted shares	0	(1,898)
Net cash used in financing activities	(604,628)	(513,873)
Effect of foreign exchange rate	850	(1,790)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	(233,526)	(432,439)
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,136,259	1,568,698
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	$ 902,733	$ 1,136,259	$ 1,568,698

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	May 30, 2023	Apr. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination
Valuation allowance			$ (16,873,639)	$ (10,436,419)
Increase (decrease) in valuation allowance			6,400,000	267,100
Total unrecognized income tax benefits			680,165	646,400
Unrecognized tax benefits that would impact effective tax rate			295,900	251,400
Accrued interest and penalties			88,463	66,700
Uncertain tax positions			(32,191)	(21,930)	$ (42,415)
Interest and penalties				10,600
Amount of claims filed	$ 20,000,000		18,700,000
Amount of claims filed excluding repetitive claims	$ 4,000,000		$ 2,600,000
Minimum
Income Tax Examination
Statues of limitation			3 years
Net cash adjustments, excluding interest		$ 70,000
Maximum
Income Tax Examination
Statues of limitation			5 years
Net cash adjustments, excluding interest		$ 250,000
CARES Act
Income Tax Examination
Uncertain tax positions			$ 43,800	$ 16,200

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition and Concentrations of Credit Risk and Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Product Information
Allowances for sales returns and allowances	$ 434.0	$ 600.2
Minimum
Product Information
Revenue from contract with customer, return period	6 months
Trade Accounts Receivable \| Credit Concentration Risk \| Cardinal Health, Inc., McKesson Corporation and Cencora, Inc.
Product Information
Concentration risk, percentage	81.00%	83.00%

BANKRUPTCY PROCEEDINGS - Narrative (Details) $ in Millions					1 Months Ended	2 Months Ended	12 Months Ended
BANKRUPTCY PROCEEDINGS - Narrative (Details) $ in Millions	Feb. 26, 2024 USD ($) claim	Dec. 19, 2023 USD ($)	May 30, 2023 USD ($)	Aug. 16, 2022 USD ($)	Mar. 31, 2023 USD ($) installment	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)
Reorganization
Liquidity requirement									$ 600.0
Amount of claims filed			$ 20,000.0				$ 18,700.0
Reorganisation items, net							261.3	$ 53.7
Subsequent event
Reorganization
Bankruptcy claims, number claims filed \| claim	907,100
Amount of claims filed	$ 979,000.0
First Lien Creditors
Reorganization
Plan of reorganization, percentage of right of receive equity (as a percent)		96.30%
Second Lien Creditors
Reorganization
Plan of reorganization, percentage of right of receive equity (as a percent)		3.70%
Plan of reorganization, cash settlement to be paid		$ 23.3
Plan of reorganization, offer rights		160.0
Unsecured Creditors
Reorganization
Plan of reorganization, maximum cash settlement to be paid		2.0
Opiod Claimants
Reorganization
Plan of reorganization, cash settlement to be paid		460.0
Plan of reorganization, subject to prepayment rights, private opioid claimants		119.7
Plan of reorganization, subject to prepayment rights, Tribal opioid claimants		15.0
Plan of reorganization, subject to prepayment rights, future opioid claimants		$ 11.4
Stalking Horse Bid
Reorganization
Potential proceeds from settlement of unencumbered assets				$ 5.0
Potential reimbursement closing cost				$ 122.0
Potential settlement in cash					$ 60.0
Potential settlement in equity (as a percent)					4.02%
Potential settlement made in equity (up to)					$ 160.0
Gross consideration payable					$ 119.2
Gross consideration payable in installments \| installment					3
Settlement, amount awarded to other party					$ 119.7
Stalking Horse Bid \| Opiod Claimants
Reorganization
Fees cap					8.5
Increase in trust payments						$ 0.5
Stalking Horse Bid - UCC Professionals
Reorganization
Fees cap					15.0
Stalking Horse Bid - Opioid And Mesh Claimant
Reorganization
Settlement, amount awarded to other party					11.9
Canadian Government
Reorganization
Settlement, amount awarded to other party					7.3
Public Scholl District \| Maximum
Reorganization
Gross consideration payable					3.0
Ad Hoc First Lien Group
Reorganization
EHSI criminal fine					1,086.0
Criminal forfeiture judgment							450.0
Unsecured debt						$ 476.0	$ 476.0
Ad Hoc First Lien Group \| Event One
Reorganization
Settlement, amount awarded to other party					$ 364.9
Litigation settlement, amount awarded to other party, term (in days)					10 years
Ad Hoc First Lien Group \| Event Two
Reorganization
Settlement, amount awarded to other party					$ 200.0
Plan of reorganization commitment consideration					25.0
EBITDA exceed					$ 100.0
Restructuring Support Agreement
Reorganization
Outstanding principal amount of secured debt (as a percent)				50.00%

INCOME TAXES - Tax Credit Carryforwards (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Foreign \| Ireland
Income Tax Examination
Operating loss carryforwards	$ 85,816
Foreign \| Luxembourg
Income Tax Examination
Operating loss carryforwards	15,201,302
Domestic
Income Tax Examination
Operating loss carryforwards	21,132
Domestic \| Capital Loss Carryforward
Income Tax Examination
Operating loss carryforwards	4,010
Domestic \| General Business Tax Credit Carryforward
Income Tax Examination
Operating loss carryforwards	9,768
State and Local Jurisdiction
Income Tax Examination
Operating loss carryforwards	210,249
State and Local Jurisdiction \| Capital Loss Carryforward
Income Tax Examination
Operating loss carryforwards	392
State and Local Jurisdiction \| General Business Tax Credit Carryforward
Income Tax Examination
Operating loss carryforwards	$ 3,256

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2023

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, 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, 2023 and December 31, 2022 (in thousands):


	Balance Sheet Line Items	December 31, 2023		December 31, 2022
Restricted cash and cash equivalents—current (1)	Restricted cash and cash equivalents	$	167,702	$	145,358
Restricted cash and cash equivalents—noncurrent (2)	Other assets	85,000		85,000
Total restricted cash and cash equivalents		$	252,702	$	230,358

__________

(1)Amounts at December 31, 2023 and December 31, 2022 include: (i) restricted cash and cash equivalents associated with litigation-related matters, including $49.8 million and $50.7 million, respectively, held in Qualified Settlement Funds (QSFs) for mesh and/or opioid-related matters, and (ii) approximately $85.9 million and $86.0 million, respectively, of restricted cash and cash equivalents related to certain self-insurance related matters. These balances are classified as current assets in the Consolidated Balance Sheets as the potential for, and timing of, future claims is unknown and could result in distributions within the next twelve months. See Note 16. Commitments and Contingencies for further information about litigation-related matters.

(2)The amounts at December 31, 2023 and December 31, 2022 relate to the TLC Agreement. This balance, which may be used to fund certain future contractual obligations or returned to us upon satisfaction of certain conditions, is classified as a noncurrent asset in the Consolidated Balance Sheets. See Note 12. License, Collaboration and Asset Acquisition Agreements for further information.

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, 2023 and December 31, 2022 were as follows (in thousands):


	Fair Value Measurements at December 31, 2023 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds (1)	$	7,123	$	—	$	—	$	7,123
Liabilities:



Acquisition-related contingent consideration (2)	$	—	$	—	$	12,447	$	12,447


	Fair Value Measurements at December 31, 2022 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds (1)	$	12,226	$	—	$	—	$	12,226
Liabilities:



Acquisition-related contingent consideration (2)	$	—	$	—	$	16,571	$	16,571

__________

(1)At December 31, 2023 and December 31, 2022, money market funds include $7.1 million and $12.2 million, respectively, in QSFs. Amounts in QSFs are considered restricted cash equivalents. See Note 16. Commitments and Contingencies for further discussion of our litigation. At December 31, 2023 and December 31, 2022, the differences between the amortized cost and the fair value of our money market funds were not material, individually or in the aggregate.

(2)At December 31, 2023 and December 31, 2022, the balances of the Company’s liability for acquisition-related contingent consideration, which are governed by executory contracts and recorded at the expected amount of the total allowed claim, are classified within Liabilities subject to compromise in the Consolidated Balance Sheets.

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, 2023 and 2022 (in thousands):



	2023		2022
Beginning of period	$	16,571	$	20,076
Amounts settled	(6,177)		(3,127)
Changes in fair value recorded in earnings	1,972		408
Effect of currency translation	81		(786)
End of period	$	12,447	$	16,571

At December 31, 2023, the fair value measurements of the contingent consideration obligations were determined using risk-adjusted discount rates ranging from 10.0% to 15.0% (weighted average rate of approximately 10.4%, 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.

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the year ended December 31, 2023 by acquisition (in thousands):


	Balance as of December 31, 2022 (1)		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2023 (1)
Auxilium acquisition	$	10,618	$	1,041	$	(2,165)	$	9,494
Lehigh Valley Technologies, Inc. acquisitions	2,300		(91)		(1,209)		1,000

Other	3,653		1,022		(2,722)		1,953
Total	$	16,571	$	1,972	$	(6,096)	$	12,447

__________

(1)At December 31, 2023 and December 31, 2022, the balances of the Company’s liability for acquisition-related contingent consideration, which are governed by executory contracts and recorded at the expected amount of the total allowed claim, are classified within Liabilities subject to compromise in the Consolidated Balance Sheets.

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during year ended December 31, 2022 by acquisition (in thousands):


	Balance as of December 31, 2021		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2022 (1)
Auxilium acquisition	$	9,038	$	2,116	$	(536)	$	10,618
Lehigh Valley Technologies, Inc. acquisitions	3,600		(635)		(665)		2,300

Other	7,438		(1,073)		(2,712)		3,653
Total	$	20,076	$	408	$	(3,913)	$	16,571

__________

(1)At December 31, 2022, the balance of the Company’s liability for acquisition-related contingent consideration, which is governed by executory contracts and recorded at the expected amount of the total allowed claim, is classified within Liabilities subject to compromise in the Consolidated Balance Sheets.

Nonrecurring Fair Value Measurements

Long-lived assets, goodwill and other intangible assets may be subject to nonrecurring fair value measurement for the evaluation of potential impairment. During the year ended December 31, 2023, nonrecurring fair value measurements, which related primarily to certain property, plant and equipment, were not material.

The Company’s financial assets and liabilities measured at fair value on a nonrecurring basis during the year ended December 31, 2022 were as follows (in thousands):


	Fair Value Measurements during the Year Ended December 31, 2022 (1) using:						Total Expense for the Year Ended December 31, 2022
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs

Intangible assets, excluding goodwill (2)(3)	—		—		67,082		(288,701)
Certain property, plant and equipment	—		—		—		(9,045)

Total	$	—	$	—	$	67,082	$	(297,746)

__________

(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 9.5% to 12.0% (weighted average rate of approximately 11.8%, weighted based on relative fair value).

(3)The Company also performed fair value measurements in connection with its goodwill 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 used.

- 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

GOODWILL AND OTHER INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

Changes in the carrying amounts of our goodwill for the years ended December 31, 2023 and December 31, 2022 were as follows (in thousands):


	Branded Pharmaceuticals		Sterile Injectables		Generic Pharmaceuticals		International Pharmaceuticals		Total
Goodwill as of December 31, 2021	$	828,818	$	2,368,193	$	—	$	—	$	3,197,011


Goodwill impairment charges	—		(1,845,000)		—		—		(1,845,000)

Goodwill as of December 31, 2022	$	828,818	$	523,193	$	—	$	—	$	1,352,011



Goodwill as of December 31, 2023	$	828,818	$	523,193	$	—	$	—	$	1,352,011

The carrying amounts of goodwill at December 31, 2023 and December 31, 2022 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, 2022	$	855,810	$	2,208,000	$	3,142,657	$	513,211	$	6,719,678
Accumulated impairment losses as of December 31, 2023	$	855,810	$	2,208,000	$	3,142,657	$	525,244	$	6,731,711

Schedule of Other Intangible Assets

Changes in the amounts of other intangible assets for the year ended December 31, 2023 are set forth in the table below (in thousands).


Cost basis:	Balance as of December 31, 2022		Acquisitions		Other (1)		Effect of Currency Translation		Balance as of December 31, 2023




Licenses (weighted average life of 14 years)	$	442,107	$	—	$	(10,000)	$	—	$	432,107
Tradenames	6,409		—		—		—		6,409
Developed technology (weighted average life of 12 years)	5,920,021		—		—		5,641		5,925,662

Total other intangibles (weighted average life of 12 years)	$	6,368,537	$	—	$	(10,000)	$	5,641	$	6,364,178

Accumulated amortization:	Balance as of December 31, 2022		Amortization		Other (1)		Effect of Currency Translation		Balance as of December 31, 2023

Licenses	$	(424,508)	$	(4,576)	$	10,000	$	—	$	(419,084)
Tradenames	(6,409)		—		—		—		(6,409)
Developed technology	(4,204,685)		(251,357)		—		(4,760)		(4,460,802)
Total other intangibles	$	(4,635,602)	$	(255,933)	$	10,000	$	(4,760)	$	(4,886,295)
Net other intangibles	$	1,732,935							$	1,477,883

__________

(1)Other adjustments relate to the removal of certain fully amortized intangible assets.

Schedule of Future Amortization Expense

For intangible assets subject to amortization, estimated amortization expense for the five fiscal years subsequent to December 31, 2023 is as follows (in thousands):


2024	$	246,050
2025	$	232,930
2026	$	209,784
2027	$	134,322
2028	$	112,476

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Liabilities, Current [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 14. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses included the following at December 31, 2023 and December 31, 2022 (in thousands):


	December 31, 2023		December 31, 2022
Trade accounts payable	$	94,735	$	109,033
Returns and allowances	119,577		160,619
Rebates	105,428		167,516

Other sales deductions	3,212		7,116

Accrued payroll and related benefits	81,145		95,666
Accrued royalties and other distribution partner payables	35,856		24,072

Other (1)	97,783		123,161
Total	$	537,736	$	687,183

__________

(1)Amounts include a wide variety of accrued expenses, the most significant of which relate to accrued legal and other professional fees.

The decrease in the Returns and allowances, Rebates and Other sales deductions accruals are primarily due to changes in gross sales and customer mix, as well as other factors. The decrease in the Other accrued expense category, inclusive of accrued legal and other professional fee accruals, is primarily a result of timing of payments. Refer to Note 2. Bankruptcy Proceedings for additional information about certain professional fees recognized during our bankruptcy proceedings.

The amounts in the table above do not include amounts classified as Liabilities subject to compromise in our Consolidated Balance Sheets. Refer to Note 2. Bankruptcy Proceedings for additional information about Liabilities subject to compromise.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES:
NET LOSS	$ (2,449,807)	$ (2,923,105)	$ (613,245)
Adjustments to reconcile Net loss to Net cash provided by operating activities:
Depreciation and amortization	306,448	391,629	457,098
Share-based compensation	11,240	17,314	30,046
Amortization of debt issuance costs and discount	0	9,406	14,437
Deferred income taxes	4,702	(7,303)	(3,157)
Change in fair value of contingent consideration	1,972	408	(8,793)
Loss on extinguishment of debt	0	0	13,753
Acquired in-process research and development charges	0	68,700	25,120
Asset impairment charges	503	2,142,746	414,977
Non-cash reorganization items, net	905,868	89,197	0
Gain on sale of business and other assets	(10,392)	(26,183)	(4,516)
Other	(222)	2,776	0
Changes in assets and liabilities which provided (used) cash:
Accounts receivable	106,506	105,912	(82,052)
Inventories	22,195	(4,359)	48,978
Prepaid and other assets	38,006	80,350	(34,002)
Accounts payable, accrued expenses and other liabilities	1,500,094	321,055	84,391
Income taxes payable/receivable, net	(2,015)	650	68,015
Net cash provided by operating activities	435,098	269,193	411,050
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(94,325)	(99,722)	(77,929)
Capitalized interest payments	0	(3,140)	(2,721)
Proceeds from the U.S. Government Cooperative Agreement	39,397	18,635	0
Acquisitions, including in-process research and development, net of cash and restricted cash acquired	0	(90,320)	(5,000)
Product acquisition costs and license fees	0	0	(4,177)
Proceeds from sale of business and other assets	5,134	41,400	30,283
Net cash used in investing activities	(49,794)	(133,147)	(59,544)
FINANCING ACTIVITIES:
Proceeds from issuance of notes, net	0	0	1,279,978
Proceeds from issuance of term loans, net	0	0	1,980,000
Repayments of notes	0	(180,342)	0
Repayments of term loans	0	(10,000)	(3,310,475)
Repayments of revolving debt	0	0	(22,800)
Adequate protection payments	(592,759)	(313,109)	0
Repayments of other indebtedness	(6,733)	(6,062)	(5,448)
Payments for debt issuance and extinguishment costs	0	0	(8,574)
Payments for contingent consideration	(5,136)	(2,462)	(4,010)
Payments of tax withholding for restricted shares	0	(1,898)	(14,774)
Proceeds from exercise of options	0	0	622
Net cash used in financing activities	(604,628)	(513,873)	(105,481)
Effect of foreign exchange rate	704	(4,242)	285
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	(218,620)	(382,069)	246,310
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,249,241	1,631,310	1,385,000
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	1,030,621	1,249,241	1,631,310
SUPPLEMENTAL INFORMATION:
Cash paid for interest, excluding capitalized interest and adequate protection payments	0	289,664	538,424
Cash paid for income taxes, gross	10,465	14,101	10,019
Cash refunds from income taxes, gross	1,776	3,092	57,801
SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Acquisitions, including in-process research and development, accrued in the period but not yet paid	$ 0	$ 0	$ 20,120

NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Numerator and Denominator of Basic and Diluted Net (Loss) Income Per Share

The following is a reconciliation of the numerator and denominator of basic and diluted net loss per share for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Numerator:
Loss from continuing operations	$	(2,447,786)	$	(2,909,618)	$	(569,081)


(Loss) income from discontinued operations, net of tax	(2,021)		(13,487)		(44,164)
Net loss	$	(2,449,807)	$	(2,923,105)	$	(613,245)
Denominator:
For basic per share data—weighted average shares	235,219		234,840		232,785
Dilutive effect of ordinary share equivalents	—		—		—

For diluted per share data—weighted average shares	235,219		234,840		232,785

Schedule of Computation of Diluted Income Per Share Amount

The following table presents, for the years ended December 31, 2022 and 2021, outstanding stock options and stock awards that could potentially dilute per share amounts in the future that were not included in the computation of diluted per share amounts because to do so would have been antidilutive (in thousands):



	2022	2021
Stock options	5,453	6,584
Stock awards	5,789	9,256

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Going Concern	Going Concern As further discussed herein, thousands of governmental and private plaintiffs have filed suit against us and/or certain of our subsidiaries alleging opioid-related claims, most of which we have not been able to settle. As a result of the possibility or occurrence of an unfavorable outcome with respect to these proceedings, other legal proceedings and certain other risks and uncertainties, we explored a wide array of potential actions as part of our contingency planning and, as further described in the Second-Quarter 2022 Form 10-Q, we previously concluded that the related conditions and events gave rise to substantial doubt about our ability to continue as a going concern. Subsequent to the filing of the Second-Quarter 2022 Form 10-Q, beginning on the August 16, 2022 Petition Date, the Debtors filed voluntary petitions for relief under the Bankruptcy Code, which constituted an event of default that accelerated our obligations under substantially all of our then-outstanding debt instruments. However, section 362 of the Bankruptcy Code stays creditors from taking any action to enforce the related financial obligations and creditors’ rights of enforcement in respect of the debt instruments are subject to the applicable provisions of the Bankruptcy Code. Refer to Note 2. Bankruptcy Proceedings and Note 15. Debt for additional information. As a result of these conditions and events, management continues to believe there is substantial doubt about our ability to continue as a going concern within one year after the date of issuance of these Consolidated Financial Statements. The accompanying Consolidated Financial Statements have been prepared under the going concern basis of accounting as required by U.S. GAAP and do not include any adjustments that might be necessary should we be unable to continue as a going concern.
Consolidation and Basis of Presentation	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	Reclassifications. Certain prior period amounts have been reclassified to conform to the current period presentation.
Use of Estimates	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, share-based compensation, estimated allowed claim amounts, liabilities subject to compromise and reorganization items, net, among others. Some of these estimates can be subjective and complex. Uncertainties related to the magnitude and duration of potential public health crises, like the recent COVID-19 pandemic, and epidemics, the extent to which it may impact our estimated future financial results, worldwide macroeconomic conditions including interest rates, employment rates, consumer spending and health insurance coverage, among others, 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. Additionally, as a result of our ongoing bankruptcy proceedings, we may sell or otherwise dispose of or liquidate assets or settle liabilities for amounts other than those reflected in the accompanying Consolidated Financial Statements. The possibility or occurrence of any such actions could materially impact the amounts and classifications of such assets and liabilities reported in our Consolidated Balance Sheets. Furthermore, our ongoing bankruptcy proceedings and our anticipated sale process in connection with the Plan have resulted in and are likely to continue to result in significant changes to our business, which could ultimately result in, among other things, asset impairment charges that may be material. 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 the uncertainties described in this report, those described in our other reports filed with the SEC or other uncertainties. 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	Customer, Product and Supplier Concentration. We primarily sell our products to wholesalers, retail drug store chains, supermarket chains, mass merchandisers, distributors, mail order accounts, hospitals and/or government agencies. Our wholesalers and/or distributors purchase products from us and, in turn, supply products to retail drug store chains, independent pharmacies, hospitals, long-term care facilities, clinics, home infusion pharmacies, government facilities and MCOs.
Revenue Recognition and Sales Deductions / Contract Assets and Contract Liabilities / Cost of Revenues	Revenue Recognition and Sales Deductions. With respect to contracts with commercial substance that establish payment terms and each party’s rights regarding goods or services to be transferred, we recognize revenue when (or as) we satisfy our performance obligations for such contracts by transferring control of the underlying promised goods or services to our customers, to the extent collection of substantially all of the related consideration is probable. 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 120 days of invoicing. At December 31, 2023 and 2022, our reserves for sales deductions totaled $434.0 million and $600.2 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, 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 or distributor 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 certain of our 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 entities and (ii) indirect customers including independent pharmacies, non-warehousing chains, MCOs, GPOs, hospitals and other healthcare institutions 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. Contract Assets and Contract Liabilities. Contract assets represent our right to consideration in exchange for goods or services that we have transferred when that right is conditioned on something other than the passage of time. We record income and a corresponding contract asset when we fulfill a contractual performance obligation, but must also fulfill one or more additional performance obligations before being entitled to payment. Once our right to consideration becomes unconditional, the contract asset amount is reclassified as Accounts receivable. Contract liabilities represent our obligation to transfer goods or services to a customer. We record a contract liability generally upon receipt of consideration in advance of fulfilling one or more of our contractual performance obligations. Upon completing each performance obligation, the corresponding contract liability amount is reversed and income 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. 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.
Acquisitions / Contingent Consideration	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. 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.
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. The accounting for costs associated with acquiring in-process research and development assets, including contractual upfront and milestone payments to third parties, is further discussed below.
R&D	R&D. Expenditures for R&D are expensed as incurred and included as Research and development in the Consolidated Statements of Operations. Such expenses include, among other things, the costs of discovery research, preclinical development, early- and late-clinical development and drug formulation, clinical trials, materials and medical support of marketed products. 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. The accounting for costs associated with acquiring in-process research and development assets, including contractual upfront and milestone payments to third parties, is further discussed below.
Cash and Cash Equivalents	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, 2023 and 2022, 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	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	Accounts Receivable. 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	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 81% and 83% of our gross trade accounts receivable balances represent amounts due from three customers (Cardinal Health, Inc., McKesson Corporation and Cencora, Inc.) at December 31, 2023 and December 31, 2022, 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, 2023 or December 31, 2022, 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, the extent of which cannot be fully predicted.
Inventories	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. 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.
Computer Software	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	Lease Accounting. 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.
Cloud Computing Arrangements	Cloud Computing Arrangements. The Company may from time to time incur costs in connection with hosting arrangements that are service contracts. 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 / License Rights	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 and to be held and used, it is 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 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 6 years to 16 years, with a weighted average useful life of approximately 12 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 7 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 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 the case of long-lived assets to be disposed of by sale or otherwise, including assets held for sale, the assets and the associated liabilities to be disposed of together as a group in a single transaction (the disposal group) are measured at the lower of their carrying amount or fair value less cost to sell. Prior to disposal, losses are recognized for any initial or subsequent write-down to fair value less cost to sell, while gains are recognized for any subsequent increase in fair value less cost to sell, but not in excess of any cumulative losses previously recognized. Any gains or losses not previously recognized that result from the sale of a disposal group shall be recognized at the date of sale.
Acquired in-Process Research and Development Assets	Acquired in-Process Research and Development Assets. Acquired in-process research and development charges are generally recognized in periods in which in-process research and development assets (with no alternative future use in other research and development projects) are acquired from third parties in connection with an asset acquisition, or when costs are incurred (up to the point of regulatory approval) for upfront or milestone payments to third parties associated with in-process research and development. 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. Any indefinite-lived intangible assets are not subject to amortization. Instead, they are tested for impairment annually, as of October 1, and when events or changes in circumstances indicate that the asset might be impaired. 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	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	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 are generally 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.
Share Repurchases	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. Advertising costs are expensed as incurred and included in Selling, general and administrative expenses in the Consolidated Statements of Operations.
Restructuring	Restructuring. Restructuring charges related to nonretirement postemployment benefits that fall under Accounting Standards Codification Topic 712, Compensation—Nonretirement Postemployment Benefits 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 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	Share-Based Compensation. From time to time, the Company granted share-based compensation awards to certain employees and non-employee directors. Generally, the grant-date fair value of each award was recognized as expense over the requisite service period. However, expense recognition differed in the case of certain performance share units (PSUs) where the ultimate payout was performance-based. For these awards, at each reporting period, the Company generally estimated the ultimate payout and adjusted the cumulative expense based on its estimate and the percent of the requisite service period that elapsed. Share-based compensation expense was reduced for estimated future forfeitures. These estimates were revised in future periods if actual forfeitures differed from the estimates. Changes in forfeiture estimates impacted 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.
Foreign Currency	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, 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	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 unrecognized income tax positions (UTPs) 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 generally recognizes changes in UTPs, interest and penalties in the Income tax expense line in the Consolidated Statements of Operations. Refer to Note 21. Income Taxes for information about the classification of liabilities related to UTPs, including interest and penalties, in the Consolidated Balance Sheets.
Comprehensive Income	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. Government Assistance Transactions. We are party to the U.S. Government Cooperative Agreement (as defined and discussed in more detail below). Under the terms of the U.S. Government Cooperative Agreement, our Rochester facility will establish new sterile fill-finish manufacturing assets capable of processing liquid or lyophilized products requiring Biosafety Level (BSL) 2 containment in order to establish and sustain BSL 2 sterile fill-finish production capacity to create and maintain industrial base capabilities for the national defense. The Company has concluded that reimbursements it receives pursuant to the U.S. Government Cooperative Agreement, which are further described below, are not within the scope of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606) because the U.S. government does not meet the definition of a “customer” as defined by ASC 606. We are instead accounting for the U.S. Government Cooperative Agreement under other guidance including, for elements of the contract for which there is no authoritative guidance under U.S. GAAP, by applying the relevant accounting principles contained in International Accounting Standards (IAS) 20—Accounting for Government Grants and Disclosure of Government Assistance by analogy. Under this model, reimbursements we receive from the U.S. government for qualifying capital expenditures meet the definition of grants related to assets as the primary purpose for the reimbursements is to fund the purchase and construction of capital assets to increase production capacity. Under IAS 20, government grants related to assets are presented in the Consolidated Balance Sheets either by presenting the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset. Either of these two methods of presentation of grants related to assets in the Consolidated Balance Sheets are regarded as acceptable alternatives under IAS 20. Reimbursements received prior to the asset being placed into service are recognized as deferred income in the Consolidated Balance Sheets as either Accounts payable and accrued expenses (for any current portion) or Other liabilities (for any noncurrent portion) when there is reasonable assurance the conditions of the grant will be met and the grant will be received. When the constructed capital assets are placed into service we deduct the grant reimbursement from Property, plant and equipment and the grant income is recognized over the useful life of the asset as a reduction to depreciation expense. Refer to Note 16. Commitments and Contingencies for additional discussion of this agreement.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted at December 31, 2023 In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 14, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standards update on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures (ASU 2023-09) to enhance the transparency and decision usefulness of income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standards update on its consolidated financial statements and related disclosures.

FAIR VALUE MEASUREMENTS - Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Money Market Funds
Assets:
Fair value of financial assets measured on recurring basis	$ 7,100	$ 12,200
Liabilities:
Investment, Type [Extensible Enumeration]	Restricted cash and cash equivalents	Restricted cash and cash equivalents
Fair Value, Measurements, Recurring \| Acquisition-related Contingent Consideration
Liabilities:
Fair value of financial liabilities measured on recurring basis	$ 12,447	$ 16,571
Fair Value, Measurements, Recurring \| Money Market Funds
Assets:
Fair value of financial assets measured on recurring basis	7,123	12,226
Fair Value, Measurements, Recurring \| Level 1 Inputs \| Acquisition-related Contingent Consideration
Liabilities:
Fair value of financial liabilities measured on recurring basis	0	0
Fair Value, Measurements, Recurring \| Level 1 Inputs \| Money Market Funds
Assets:
Fair value of financial assets measured on recurring basis	7,123	12,226
Fair Value, Measurements, Recurring \| Level 2 Inputs \| Acquisition-related Contingent Consideration
Liabilities:
Fair value of financial liabilities measured on recurring basis	0	0
Fair Value, Measurements, Recurring \| Level 2 Inputs \| Money Market Funds
Assets:
Fair value of financial assets measured on recurring basis	0	0
Fair Value, Measurements, Recurring \| Level 3 Inputs \| Acquisition-related Contingent Consideration
Liabilities:
Fair value of financial liabilities measured on recurring basis	12,447	16,571
Fair Value, Measurements, Recurring \| Level 3 Inputs \| Money Market Funds
Assets:
Fair value of financial assets measured on recurring basis	$ 0	$ 0

DESCRIPTION OF BUSINESS	12 Months Ended
DESCRIPTION OF BUSINESS	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1. DESCRIPTION OF BUSINESS Background and Basis of Presentation 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. Going Concern As further discussed herein, thousands of governmental and private plaintiffs have filed suit against us and/or certain of our subsidiaries alleging opioid-related claims, most of which we have not been able to settle. As a result of the possibility or occurrence of an unfavorable outcome with respect to these proceedings, other legal proceedings and certain other risks and uncertainties, we explored a wide array of potential actions as part of our contingency planning and, as further described in the Second-Quarter 2022 Form 10-Q, we previously concluded that the related conditions and events gave rise to substantial doubt about our ability to continue as a going concern. Subsequent to the filing of the Second-Quarter 2022 Form 10-Q, beginning on the August 16, 2022 Petition Date, the Debtors filed voluntary petitions for relief under the Bankruptcy Code, which constituted an event of default that accelerated our obligations under substantially all of our then-outstanding debt instruments. However, section 362 of the Bankruptcy Code stays creditors from taking any action to enforce the related financial obligations and creditors’ rights of enforcement in respect of the debt instruments are subject to the applicable provisions of the Bankruptcy Code. Refer to Note 2. Bankruptcy Proceedings and Note 15. Debt for additional information. As a result of these conditions and events, management continues to believe there is substantial doubt about our ability to continue as a going concern within one year after the date of issuance of these Consolidated Financial Statements. The accompanying Consolidated Financial Statements have been prepared under the going concern basis of accounting as required by U.S. GAAP and do not include any adjustments that might be necessary should we be unable to continue as a going concern.

DEBT - Credit Facility (Details) - USD ($)	12 Months Ended
DEBT - Credit Facility (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2021
Line of Credit Facility
Principal amount	$ 8,147,826,000	$ 8,147,826,000
Revolving Credit Facility \| Minimum \| London Inter bank Offered Rate LIBOR
Line of Credit Facility
Basis spread on variable rate (as a percent)	1.50%
Revolving Credit Facility \| Minimum \| Base Rate
Line of Credit Facility
Basis spread on variable rate (as a percent)	0.50%
Revolving Credit Facility \| Maximum \| London Inter bank Offered Rate LIBOR
Line of Credit Facility
Basis spread on variable rate (as a percent)	3.00%
Revolving Credit Facility \| Maximum \| Base Rate
Line of Credit Facility
Basis spread on variable rate (as a percent)	2.00%
Term Loan Facility
Line of Credit Facility
Long-term debt, gross	$ 30,000,000
Term Loan Facility \| London Inter bank Offered Rate LIBOR
Line of Credit Facility
Basis spread on variable rate (as a percent)	5.00%
Basis spread on variable rate (as a percent)	0.75%
Term Loan Facility \| Base Rate
Line of Credit Facility
Basis spread on variable rate (as a percent)	4.00%
Basis spread on variable rate (as a percent)	1.75%
2017 Credit Agreement \| Term Loan Facility
Line of Credit Facility
Principal amount	$ 2,000,000,000		$ 2,000,000,000
Revolving Credit Facility
Line of Credit Facility
Principal amount	277,200,000	$ 277,200,000
Revolving Credit Facility \| 2017 Credit Agreement
Line of Credit Facility
Principal amount			$ 1,000,000,000
Term Loan Facility
Line of Credit Facility
Principal amount	$ 2,000,000,000
Quarter periodic payment (as a percent)	0.25%
Long-term debt, gross	$ 74,600,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3. 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.

Bankruptcy Accounting. Refer to Note 2. Bankruptcy Proceedings under the heading “Bankruptcy Accounting” for a discussion of accounting considerations related to our ongoing bankruptcy proceedings.

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, share-based compensation, estimated allowed claim amounts, liabilities subject to compromise and reorganization items, net, among others. Some of these estimates can be subjective and complex. Uncertainties related to the magnitude and duration of potential public health crises, like the recent COVID-19 pandemic, and epidemics, the extent to which it may impact our estimated future financial results, worldwide macroeconomic conditions including interest rates, employment rates, consumer spending and health insurance coverage, among others, 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. Additionally, as a result of our ongoing bankruptcy proceedings, we may sell or otherwise dispose of or liquidate assets or settle liabilities for amounts other than those reflected in the accompanying Consolidated Financial Statements. The possibility or occurrence of any such actions could materially impact the amounts and classifications of such assets and liabilities reported in our Consolidated Balance Sheets. Furthermore, our ongoing bankruptcy proceedings and our anticipated sale process in connection with the Plan have resulted in and are likely to continue to result in significant changes to our business, which could ultimately result in, among other things, asset impairment charges that may be material. 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 the uncertainties described in this report, those described in our other reports filed with the SEC or other uncertainties.

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 products to wholesalers, retail drug store chains, supermarket chains, mass merchandisers, distributors, mail order accounts, hospitals and/or government agencies. Our wholesalers and/or distributors purchase products from us and, in turn, supply products to retail drug store chains, independent pharmacies, hospitals, long-term care facilities, clinics, home infusion pharmacies, government facilities and MCOs. Net revenues from direct customers that accounted for 10% or more of our total consolidated net revenues during the years ended December 31, 2023, 2022 and 2021 are as follows:


	2023		2022		2021
Cencora, Inc. (1)	29	%	35	%	36	%
McKesson Corporation	25	%	26	%	32	%
Cardinal Health, Inc.	17	%	20	%	22	%
CVS Health Corporation (1)	16	%	4	%	—	%

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(1)During the second quarter of 2022, CVS Health Corporation finalized the acquisition of US Bioservices from Cencora, Inc. (known as AmerisourceBergen Corporation at the time).

Net revenues from these customers are generally included within each of our segments.

XIAFLEX® accounted for 24%, 19% and 14% of our 2023, 2022 and 2021 net revenues, respectively. Varenicline tablets (our generic version of Pfizer Inc.’s Chantix®) accounted for 13% of our 2022 net revenues. VASOSTRICT® accounted for 11% and 30% of our 2022 and 2021 net revenues, respectively. No other products accounted for 10% or more of our net revenues during any of the years ended December 31, 2023, 2022 and 2021.

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 any 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. With respect to contracts with commercial substance that establish payment terms and each party’s rights regarding goods or services to be transferred, we recognize revenue when (or as) we satisfy our performance obligations for such contracts by transferring control of the underlying promised goods or services to our customers, to the extent collection of substantially all of the related consideration is probable. 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 120 days of invoicing.

At December 31, 2023 and 2022, our reserves for sales deductions totaled $434.0 million and $600.2 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, 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 or distributor 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 certain of our 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 entities and (ii) indirect customers including independent pharmacies, non-warehousing chains, MCOs, GPOs, hospitals and other healthcare institutions 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.

Contract Assets and Contract Liabilities. Contract assets represent our right to consideration in exchange for goods or services that we have transferred when that right is conditioned on something other than the passage of time. We record income and a corresponding contract asset when we fulfill a contractual performance obligation, but must also fulfill one or more additional performance obligations before being entitled to payment. Once our right to consideration becomes unconditional, the contract asset amount is reclassified as Accounts receivable.

Contract liabilities represent our obligation to transfer goods or services to a customer. We record a contract liability generally upon receipt of consideration in advance of fulfilling one or more of our contractual performance obligations. Upon completing each performance obligation, the corresponding contract liability amount is reversed and income 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.

The accounting for costs associated with acquiring in-process research and development assets, including contractual upfront and milestone payments to third parties, is further discussed below.

R&D. Expenditures for R&D are expensed as incurred and included as Research and development in the Consolidated Statements of Operations. Such expenses include, among other things, the costs of discovery research, preclinical development, early- and late-clinical development and drug formulation, clinical trials, materials and medical support of marketed products. 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. The accounting for costs associated with acquiring in-process research and development assets, including contractual upfront and milestone payments to third parties, is further discussed below.

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, 2023 and 2022, 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. 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 81% and 83% of our gross trade accounts receivable balances represent amounts due from three customers (Cardinal Health, Inc., McKesson Corporation and Cencora, Inc.) at December 31, 2023 and December 31, 2022, 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, 2023 or December 31, 2022, 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, 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, 2023, 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, 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. 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.

Cloud Computing Arrangements. The Company may from time to time incur costs in connection with hosting arrangements that are service contracts. 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 and to be held and used, it is 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 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 6 years to 16 years, with a weighted average useful life of approximately 12 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 7 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 the case of long-lived assets to be disposed of by sale or otherwise, including assets held for sale, the assets and the associated liabilities to be disposed of together as a group in a single transaction (the disposal group) are measured at the lower of their carrying amount or fair value less cost to sell. Prior to disposal, losses are recognized for any initial or subsequent write-down to fair value less cost to sell, while gains are recognized for any subsequent increase in fair value less cost to sell, but not in excess of any cumulative losses previously recognized. Any gains or losses not previously recognized that result from the sale of a disposal group shall be recognized at the date of sale.

Acquired in-Process Research and Development Assets. Acquired in-process research and development charges are generally recognized in periods in which in-process research and development assets (with no alternative future use in other research and development projects) are acquired from third parties in connection with an asset acquisition, or when costs are incurred (up to the point of regulatory approval) for upfront or milestone payments to third parties associated with in-process research and development. 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. Any indefinite-lived intangible assets are not subject to amortization. Instead, they are tested for impairment annually, as of October 1, and when events or changes in circumstances indicate that the asset might be impaired. 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 are generally 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 $98.2 million, $130.4 million and $136.8 million for the years ended December 31, 2023, 2022 and 2021, 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 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 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. From time to time, the Company granted share-based compensation awards to certain employees and non-employee directors. Generally, the grant-date fair value of each award was recognized as expense over the requisite service period. However, expense recognition differed in the case of certain performance share units (PSUs) where the ultimate payout was performance-based. For these awards, at each reporting period, the Company generally estimated the ultimate payout and adjusted the cumulative expense based on its estimate and the percent of the requisite service period that elapsed. Share-based compensation expense was reduced for estimated future forfeitures. These estimates were revised in future periods if actual forfeitures differed from the estimates. Changes in forfeiture estimates impacted 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.

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, 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 unrecognized income tax positions (UTPs) 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 generally recognizes changes in UTPs, interest and penalties in the Income tax expense line in the Consolidated Statements of Operations. Refer to Note 21. Income Taxes for information about the classification of liabilities related to UTPs, including interest and penalties, 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.

Government Assistance Transactions. We are party to the U.S. Government Cooperative Agreement (as defined and discussed in more detail below). Under the terms of the U.S. Government Cooperative Agreement, our Rochester facility will establish new sterile fill-finish manufacturing assets capable of processing liquid or lyophilized products requiring Biosafety Level (BSL) 2 containment in order to establish and sustain BSL 2 sterile fill-finish production capacity to create and maintain industrial base capabilities for the national defense.

The Company has concluded that reimbursements it receives pursuant to the U.S. Government Cooperative Agreement, which are further described below, are not within the scope of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606) because the U.S. government does not meet the definition of a “customer” as defined by ASC 606. We are instead accounting for the U.S. Government Cooperative Agreement under other guidance including, for elements of the contract for which there is no authoritative guidance under U.S. GAAP, by applying the relevant accounting principles contained in International Accounting Standards (IAS) 20—Accounting for Government Grants and Disclosure of Government Assistance by analogy.

Under this model, reimbursements we receive from the U.S. government for qualifying capital expenditures meet the definition of grants related to assets as the primary purpose for the reimbursements is to fund the purchase and construction of capital assets to increase production capacity. Under IAS 20, government grants related to assets are presented in the Consolidated Balance Sheets either by presenting the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset. Either of these two methods of presentation of grants related to assets in the Consolidated Balance Sheets are regarded as acceptable alternatives under IAS 20. Reimbursements received prior to the asset being placed into service are recognized as deferred income in the Consolidated Balance Sheets as either Accounts payable and accrued expenses (for any current portion) or Other liabilities (for any noncurrent portion) when there is reasonable assurance the conditions of the grant will be met and the grant will be received. When the constructed capital assets are placed into service we deduct the grant reimbursement from Property, plant and equipment and the grant income is recognized over the useful life of the asset as a reduction to depreciation expense.

Refer to Note 16. Commitments and Contingencies for additional discussion of this agreement.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted at December 31, 2023

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 14, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standards update on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures (ASU 2023-09) to enhance the transparency and decision usefulness of income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standards update on its consolidated financial statements and related disclosures.

OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)	12 Months Ended
OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Other comprehensive loss, tax, portion attributable to parent	$ 0	$ 0	$ 0
Reclassification from AOCI	$ 0	$ 0	$ 0

DEBT - Maturities of Long-Term Debt - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Feb. 28, 2021
Term Loan Facility
Debt Instrument
Long-term debt, gross		$ 3,295.5
5.375% Senior Notes due 2023
Debt Instrument
Long-term debt, gross	$ 62.6
6.00% Senior Notes due 2023
Debt Instrument
Long-term debt, gross	$ 62.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

SHAREHOLDERS’ DEFICIT	12 Months Ended
SHAREHOLDERS’ DEFICIT	Dec. 31, 2023
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. 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, including restrictions imposed by the Bankruptcy Code and related rules and guidelines during the pendency of the Chapter 11 Cases, 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. In addition, our existing debt instruments restrict or prevent us from conducting ordinary share repurchases. Agreements governing any future indebtedness, in addition to those governing our current indebtedness, may not permit us to conduct ordinary share repurchases. 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.

- Definition

The entire disclosure for equity.

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+ Details

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2023

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

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, 2021	$	9,668,556	$	504,499	$	(9)	$	(3,752)	$	10,169,294
Year Ended December 31, 2022	$	10,169,294	$	273,538	$	(46)	$	(6,367)	$	10,436,419
Year Ended December 31, 2023	$	10,436,419	$	6,431,095	$	—	$	6,125	$	16,873,639

__________

(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 the Notes thereto.

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION - CONDENSED COMBINED STATEMENTS OF OPERATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
TOTAL REVENUES, NET	$ 2,011,518	$ 2,318,875	$ 2,993,206
COSTS AND EXPENSES:
Cost of revenues	946,415	1,092,499	1,221,064
Selling, general and administrative	567,727	777,169	861,760
Research and development	115,462	128,033	123,440
Acquired in-process research and development	0	68,700	25,120
Litigation-related and other contingencies, net	1,611,090	478,722	345,495
Asset impairment charges	503	2,142,746	414,977
Acquisition-related and integration items, net	1,972	408	(8,379)
Interest (income) expense, net	0	349,776	562,353
Reorganization items, net	1,169,961	202,978	0
Other income, net	(9,688)	(34,054)	(19,774)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	(2,391,924)	(2,888,102)	(546,603)
INCOME TAX EXPENSE	55,862	21,516	22,478
DISCONTINUED OPERATIONS, NET OF TAX	(2,021)	(13,487)	(44,164)
EQUITY IN LOSS OF NON-DEBTOR AFFILIATES, NET OF TAX	199	(378)	(453)
NET LOSS	(2,449,807)	(2,923,105)	$ (613,245)
Debtor-in-Possession
Income Statement [Abstract]
TOTAL REVENUES, NET	2,011,565	2,321,426
COSTS AND EXPENSES:
Cost of revenues	954,349	1,106,855
Selling, general and administrative	558,183	764,768
Research and development	124,987	137,851
Acquired in-process research and development	0	68,700
Litigation-related and other contingencies, net	1,611,090	478,722
Asset impairment charges	503	2,137,107
Acquisition-related and integration items, net	1,972	408
Interest (income) expense, net	(11,660)	345,593
Reorganization items, net	1,169,961	202,978
Other income, net	(9,330)	(13,409)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	(2,388,490)	(2,908,147)
INCOME TAX EXPENSE	52,521	17,721
LOSS FROM CONTINUING OPERATIONS	(2,441,011)	(2,925,868)
DISCONTINUED OPERATIONS, NET OF TAX	(2,021)	(13,468)
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES	(2,443,032)	(2,939,336)
EQUITY IN LOSS OF NON-DEBTOR AFFILIATES, NET OF TAX	(1,822)	22,671
NET LOSS	$ (2,444,854)	$ (2,916,665)

COMMITMENTS AND CONTINGENCIES - Narrative (Details)						1 Months Ended															3 Months Ended					9 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES - Narrative (Details)	Jul. 13, 2023 USD ($)	Apr. 13, 2023 USD ($)	Mar. 24, 2023 USD ($)	Aug. 16, 2022 USD ($)	Aug. 01, 2022	Sep. 30, 2023 patent	Aug. 31, 2023	Jan. 31, 2023 patent	Dec. 31, 2022 USD ($) defendant	Jul. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) county	Oct. 31, 2021 USD ($)	Sep. 30, 2021 USD ($) county	Aug. 31, 2021 USD ($) county municipality	Jan. 31, 2020 USD ($)	Sep. 30, 2019 USD ($) county	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) claim lawsuit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Feb. 26, 2024 claim case	Aug. 15, 2023 USD ($)	Mar. 31, 2016 case
Loss Contingencies
Construction cost incurred																											$ 52,900,000	$ 39,000,000
Selling, general and administrative																											567,727,000	777,169,000	$ 861,760,000
Reimbursable construction cost																											$ 4,100,000	3,100,000
Initial period																											10 years
Reserve for loss contingencies																					$ 2,431,500,000						$ 2,431,500,000
Number of remaining defendants granted \| defendant									5
Construction in Progress
Loss Contingencies
Selling, general and administrative																											1,300,000	1,000,000
Mesh related cases
Loss Contingencies
Payments to plaintiffs and qualified settlement funds																											3,600,000,000
Settlement funds									$ 50,339,000												49,464,000			$ 50,339,000			$ 49,464,000	50,339,000
Mesh related cases \| American Medical Systems
Loss Contingencies
Loss contingency, claims settled, number \| claim																											71,000
Stalking Horse Bid - Mesh Claimant
Loss Contingencies
Settlement, amount awarded to other party		$ 500,000
Opioid-related Matters
Loss Contingencies
Settlement, amount awarded to other party																	$ 50,000,000	$ 35,000,000	$ 8,750,000	$ 10,000,000
Number of putative class actions \| lawsuit																											3
Stay of approval, motion to extend, period (in days)							180 days
Loss contingency, plaintiffs, number of counties \| county																		9		2
Loss contingency, number of municipalities \| municipality																		18
Opioid-related Matters \| Subsequent event
Loss Contingencies
Number of cases filed by states \| case																														15
Pending claims, number \| claim																														2,570
Number of cases filed by hospitals, health systems, unions, welfare funds or other third-party \| case																														310
Number of cases alleging personal injury and/or wrongful death \| case																														220
Opioid-related Matters \| New York
Loss Contingencies
Loss contingency, plaintiffs, number of counties \| county																	2
Opioid-related Matters \| Texas
Loss Contingencies
Loss contingency, plaintiffs, number of counties \| county															4
Opioid-related Matters \| San Francisco
Loss Contingencies
Initial settlement payments										$ 5,000,000
Subsequent settlement payments										$ 500,000
Payment period (in years)										10 years
Opioid-related Matters \| VASOSTRICT and/or ADRENALIN
Loss Contingencies
Settlement, amount awarded to other party																				$ 1,000,000
Opioid-related Matters \| Endo International PLC
Loss Contingencies
Settlement, amount awarded to other party										$ 9,000,000	$ 9,750,000	$ 26,000,000	$ 7,500,000	$ 65,000,000	$ 63,000,000	$ 25,000,000
Opioid-related Matters \| Ad Hoc First Lien Group
Loss Contingencies
Reserve for loss contingencies				$ 613,000,000					$ 584,000,000														$ 599,000,000	584,000,000	$ 550,000,000			$ 584,000,000
Payment period (in years)					10 years
Contingency charges																							15,000,000	$ 34,000,000	$ 419,000,000
Funding commitment related to settlement			$ 34,000,000
Additional charges			$ 15,000,000																		1,557,000,000	$ 10,000,000
Loss contingency accrual, period increase (decrease)																					2,178,000,000	$ 621,000,000
Initial payment																										$ 5,000,000
Opioid-related Matters \| Stalking Horse Bid
Loss Contingencies
Reserve for loss contingencies	$ 611,000,000
Stalking Horse Bid And Public School District Creditors
Loss Contingencies
Litigation settlement voluntary trust amount																															$ 3,000,000
Stalking Horse Bid And Public School District Creditors \| Ad Hoc First Lien Group
Loss Contingencies
Reserve for loss contingencies				$ 3,000,000
Payment period (in years)				2 years
Stalking Horse Bid - Opioid Claimant
Loss Contingencies
Settlement, amount awarded to other party	11,500,000
Litigation settlement, potential additional awarded to other party	$ 500,000
Litigation settlement, expense																							$ 12,000,000
Stalking Horse Bid And Canadian Government
Loss Contingencies
Litigation settlement voluntary trust amount																					$ 7,000,000						$ 7,000,000
District Court For The Eastern District of Pennsylvania
Loss Contingencies
Number of cases filed by states \| case																																3
V A S O S T R I C T Related Matters \| Par Pharmaceutical Inc.
Loss Contingencies
Number of patents infringed \| patent						2		3
Stay of approval period, Hatch-Waxman Act						30 months		30 months

INCOME TAXES - Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S.	$ (1,609,064)	$ (2,429,315)	$ 4,792,852
International	(782,860)	(458,787)	(5,339,455)
Total loss from continuing operations before income tax	$ (2,391,924)	$ (2,888,102)	$ (546,603)

INVENTORIES - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 103,336	$ 105,975
Work-in-process	29,827	43,057
Finished goods	112,854	125,467
Total	$ 246,017	$ 274,499

CONTRACT ASSETS AND LIABILITIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Performance obligation satisfied in previous period	$ 20.3

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment, net consists of the following at December 31, 2023 and December 31, 2022 (in thousands):


	December 31, 2023		December 31, 2022
Land and buildings	$	243,679	$	239,207
Machinery and equipment	251,895		241,930
Leasehold improvements	41,074		54,388
Computer equipment and software	97,782		92,566
Furniture and fixtures	8,595		9,129
Assets under construction	197,670		142,560
Total property, plant and equipment, gross	$	840,695	$	779,780
Less: accumulated depreciation	(364,455)		(341,466)
Total property, plant and equipment, net	$	476,240	$	438,314

INCOME TAXES - Valuation Allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination
Valuation allowance	$ 16,873,639	$ 10,436,419
Foreign \| Ireland
Income Tax Examination
Valuation allowance	330,465
Foreign \| Luxembourg
Income Tax Examination
Valuation allowance	15,201,530
Domestic \| U.S.
Income Tax Examination
Valuation allowance	$ 1,328,840

LEASES

12 Months Ended

Dec. 31, 2023

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 term of the lease is through 2024.

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 through a sublease arrangement ending in 2024, with certain limited early termination options.

The following table presents information about the Company’s right-of-use assets and lease liabilities at December 31, 2023 and December 31, 2022 (in thousands):


	Balance Sheet Line Items	December 31, 2023		December 31, 2022
Right-of-use assets:
Operating lease right-of-use assets	Operating lease assets	$	23,033	$	28,070
Finance lease right-of-use assets	Property, plant and equipment, net	18,668		26,761
Total right-of-use assets		$	41,701	$	54,831
Operating lease liabilities, excluding amounts classified as Liabilities subject to compromise:
Current operating lease liabilities	Current portion of operating lease liabilities	$	956	$	903
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	4,132		5,129
Total operating lease liabilities		$	5,088	$	6,032
Finance lease liabilities, excluding amounts classified as Liabilities subject to compromise:

Noncurrent finance lease liabilities	Other liabilities	$	1,386	$	1,392
Total finance lease liabilities		$	1,386	$	1,392
Operating and finance leases, amounts classified as Liabilities subject to compromise:
Operating lease liabilities	Liabilities subject to compromise	$	20,635	$	28,387
Finance lease liabilities	Liabilities subject to compromise	9,981		17,078
Total operating and finance leases classified as Liabilities subject to compromise		$	30,616	$	45,465

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	Statement of Operations Line Items	2023		2022		2021
Operating lease cost	Various (1)	$	6,811	$	10,959	$	13,892
Finance lease cost:
Amortization of right-of-use assets	Various (1)	$	8,096	$	8,479	$	9,244
Interest on lease liabilities	Interest expense, net	$	781	$	1,127	$	1,480
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	10,913	$	11,707	$	13,202
Finance lease right-of-use asset impairment charges	Asset impairment charges	$	—	$	3,063	$	—

Sublease income	Various (1)	$	(5,616)	$	(6,436)	$	(3,793)

__________

(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, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Cost of revenues	$	6,150	$	6,189	$	11,316
Selling, general and administrative	$	13,952	$	18,305	$	21,013
Research and development	$	102	$	215	$	216

(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.

The following table provides the undiscounted amount of future cash flows included in our lease liabilities at December 31, 2023 for each of the five years subsequent to December 31, 2023 and thereafter, as well as a reconciliation of such undiscounted cash flows to our lease liabilities at December 31, 2023 (in thousands):


	Operating Leases		Finance Leases
2024	$	6,136	$	8,037
2025	6,747		896
2026	5,496		895
2027	5,380		895
2028	3,412		299
Thereafter	1,214		8,921
Total future lease payments	$	28,385	$	19,943
Less: amounts representing interest	2,662		8,576
Present value of future lease payments (lease liabilities, including amounts classified as Liabilities subject to compromise)	$	25,723	$	11,367
Less: amounts classified as Liabilities subject to compromise	20,635		9,981
Lease liabilities, excluding amounts classified as Liabilities subject to compromise	$	5,088	$	1,386

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	4.7 years		4.9 years
Finance leases	13.4 years		9.9 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	6.2	%	6.1	%
Finance leases	7.3	%	7.5	%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	10,476	$	13,152	$	14,478
Operating cash payments for finance leases	$	1,148	$	1,673	$	2,256
Financing cash payments for finance leases	$	6,733	$	6,062	$	5,448
Lease liabilities arising from obtaining right-of-use assets:
Operating leases (1)	$	—	$	1,296	$	5,807

__________

(1)The amount in 2022 primarily relates to a new lease agreement. The amount in 2021 primarily relates to an increase in lease liabilities and right-of-use assets related to a lease modification.

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 most significant lease is for our Malvern, Pennsylvania location. The term of the lease is through 2024.

The following table presents information about the Company’s right-of-use assets and lease liabilities at December 31, 2023 and December 31, 2022 (in thousands):


	Balance Sheet Line Items	December 31, 2023		December 31, 2022
Right-of-use assets:
Operating lease right-of-use assets	Operating lease assets	$	23,033	$	28,070
Finance lease right-of-use assets	Property, plant and equipment, net	18,668		26,761
Total right-of-use assets		$	41,701	$	54,831
Operating lease liabilities, excluding amounts classified as Liabilities subject to compromise:
Current operating lease liabilities	Current portion of operating lease liabilities	$	956	$	903
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	4,132		5,129
Total operating lease liabilities		$	5,088	$	6,032
Finance lease liabilities, excluding amounts classified as Liabilities subject to compromise:

Noncurrent finance lease liabilities	Other liabilities	$	1,386	$	1,392
Total finance lease liabilities		$	1,386	$	1,392
Operating and finance leases, amounts classified as Liabilities subject to compromise:
Operating lease liabilities	Liabilities subject to compromise	$	20,635	$	28,387
Finance lease liabilities	Liabilities subject to compromise	9,981		17,078
Total operating and finance leases classified as Liabilities subject to compromise		$	30,616	$	45,465

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	Statement of Operations Line Items	2023		2022		2021
Operating lease cost	Various (1)	$	6,811	$	10,959	$	13,892
Finance lease cost:
Amortization of right-of-use assets	Various (1)	$	8,096	$	8,479	$	9,244
Interest on lease liabilities	Interest expense, net	$	781	$	1,127	$	1,480
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	10,913	$	11,707	$	13,202
Finance lease right-of-use asset impairment charges	Asset impairment charges	$	—	$	3,063	$	—

Sublease income	Various (1)	$	(5,616)	$	(6,436)	$	(3,793)

__________



	2023		2022		2021
Cost of revenues	$	6,150	$	6,189	$	11,316
Selling, general and administrative	$	13,952	$	18,305	$	21,013
Research and development	$	102	$	215	$	216


	Operating Leases		Finance Leases
2024	$	6,136	$	8,037
2025	6,747		896
2026	5,496		895
2027	5,380		895
2028	3,412		299
Thereafter	1,214		8,921
Total future lease payments	$	28,385	$	19,943
Less: amounts representing interest	2,662		8,576
Present value of future lease payments (lease liabilities, including amounts classified as Liabilities subject to compromise)	$	25,723	$	11,367
Less: amounts classified as Liabilities subject to compromise	20,635		9,981
Lease liabilities, excluding amounts classified as Liabilities subject to compromise	$	5,088	$	1,386

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	4.7 years		4.9 years
Finance leases	13.4 years		9.9 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	6.2	%	6.1	%
Finance leases	7.3	%	7.5	%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	10,476	$	13,152	$	14,478
Operating cash payments for finance leases	$	1,148	$	1,673	$	2,256
Financing cash payments for finance leases	$	6,733	$	6,062	$	5,448
Lease liabilities arising from obtaining right-of-use assets:
Operating leases (1)	$	—	$	1,296	$	5,807

__________

(1)The amount in 2022 primarily relates to a new lease agreement. The amount in 2021 primarily relates to an increase in lease liabilities and right-of-use assets related to a lease modification.

SHARE-BASED COMPENSATION - Activity Under Stock Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Outstanding, beginning balance (in shares)	5,079,312	6,383,914	6,916,586
Exercised (in shares)			(82,331)
Forfeited (in shares)	(2,854,056)		(11,887)
Expired (in shares)	(2,225,256)	(1,304,602)	(438,454)
Outstanding, ending balance (in shares)	0	5,079,312	6,383,914
Vested and expected to vest (in shares)	0
Exercisable (in shares)	0
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 15.84	$ 16.70	$ 18.11
Exercised (in dollars per share)			7.55
Forfeited (in dollars per share)	14.73		13.19
Expired (in dollars per share)	17.27	20.04	40.76
Outstanding, ending balance (in dollars per share)	0	$ 15.84	$ 16.70
Vested and expected to vest, end of period (in dollars per share)	0
Exercisable, end of period (in dollars per share)	$ 0
Aggregate Intrinsic Value
Outstanding	$ 0
Vested and expected to vest	0
Exercisable	$ 0

GOODWILL AND OTHER INTANGIBLES - Changes in the Carrying Amount of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill
Goodwill, beginning balance	$ 3,197,011
Goodwill impairment charges	(1,845,000)
Goodwill, ending balance	1,352,011
Branded Pharmaceuticals
Goodwill
Goodwill, beginning balance	828,818
Goodwill impairment charges	0
Goodwill, ending balance	828,818
Sterile Injectables
Goodwill
Goodwill, beginning balance	2,368,193
Goodwill impairment charges	(1,845,000)
Goodwill, ending balance	$ 523,193

- Definition

+ References + Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Assets and Liabilities, Lessee

The following table presents information about the Company’s right-of-use assets and lease liabilities at December 31, 2023 and December 31, 2022 (in thousands):


	Balance Sheet Line Items	December 31, 2023		December 31, 2022
Right-of-use assets:
Operating lease right-of-use assets	Operating lease assets	$	23,033	$	28,070
Finance lease right-of-use assets	Property, plant and equipment, net	18,668		26,761
Total right-of-use assets		$	41,701	$	54,831
Operating lease liabilities, excluding amounts classified as Liabilities subject to compromise:
Current operating lease liabilities	Current portion of operating lease liabilities	$	956	$	903
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	4,132		5,129
Total operating lease liabilities		$	5,088	$	6,032
Finance lease liabilities, excluding amounts classified as Liabilities subject to compromise:

Noncurrent finance lease liabilities	Other liabilities	$	1,386	$	1,392
Total finance lease liabilities		$	1,386	$	1,392
Operating and finance leases, amounts classified as Liabilities subject to compromise:
Operating lease liabilities	Liabilities subject to compromise	$	20,635	$	28,387
Finance lease liabilities	Liabilities subject to compromise	9,981		17,078
Total operating and finance leases classified as Liabilities subject to compromise		$	30,616	$	45,465

Schedule of Lease, Cost

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	Statement of Operations Line Items	2023		2022		2021
Operating lease cost	Various (1)	$	6,811	$	10,959	$	13,892
Finance lease cost:
Amortization of right-of-use assets	Various (1)	$	8,096	$	8,479	$	9,244
Interest on lease liabilities	Interest expense, net	$	781	$	1,127	$	1,480
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	10,913	$	11,707	$	13,202
Finance lease right-of-use asset impairment charges	Asset impairment charges	$	—	$	3,063	$	—

Sublease income	Various (1)	$	(5,616)	$	(6,436)	$	(3,793)

__________



	2023		2022		2021
Cost of revenues	$	6,150	$	6,189	$	11,316
Selling, general and administrative	$	13,952	$	18,305	$	21,013
Research and development	$	102	$	215	$	216


	Operating Leases		Finance Leases
2024	$	6,136	$	8,037
2025	6,747		896
2026	5,496		895
2027	5,380		895
2028	3,412		299
Thereafter	1,214		8,921
Total future lease payments	$	28,385	$	19,943
Less: amounts representing interest	2,662		8,576
Present value of future lease payments (lease liabilities, including amounts classified as Liabilities subject to compromise)	$	25,723	$	11,367
Less: amounts classified as Liabilities subject to compromise	20,635		9,981
Lease liabilities, excluding amounts classified as Liabilities subject to compromise	$	5,088	$	1,386

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	4.7 years		4.9 years
Finance leases	13.4 years		9.9 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	6.2	%	6.1	%
Finance leases	7.3	%	7.5	%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	10,476	$	13,152	$	14,478
Operating cash payments for finance leases	$	1,148	$	1,673	$	2,256
Financing cash payments for finance leases	$	6,733	$	6,062	$	5,448
Lease liabilities arising from obtaining right-of-use assets:
Operating leases (1)	$	—	$	1,296	$	5,807

__________

(1)The amount in 2022 primarily relates to a new lease agreement. The amount in 2021 primarily relates to an increase in lease liabilities and right-of-use assets related to a lease modification.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Advertising expense	$ 98.2	$ 130.4	$ 136.8

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, 2023	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning of period	$ 16,571	$ 20,076
Amounts settled	(6,177)	(3,127)
Changes in fair value recorded in earnings	1,972	408
Effect of currency translation	81	(786)
Changes in Fair Value Recorded in Earnings	1,972	408
Amounts Settled and Other	(6,096)	(3,913)
End of period	$ 12,447	$ 16,571
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Acquisition-related and integration items, net	Acquisition-related and integration items, net
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Acquisition-related and integration items, net	Acquisition-related and integration items, net
Auxilium acquisition
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning of period	$ 10,618	$ 9,038
Changes in Fair Value Recorded in Earnings	1,041	2,116
Amounts Settled and Other	(2,165)	(536)
End of period	9,494	10,618
Lehigh Valley Technologies, Inc. acquisitions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning of period	2,300	3,600
Changes in Fair Value Recorded in Earnings	(91)	(635)
Amounts Settled and Other	(1,209)	(665)
End of period	1,000	2,300
Other
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning of period	3,653	7,438
Changes in Fair Value Recorded in Earnings	1,022	(1,073)
Amounts Settled and Other	(2,722)	(2,712)
End of period	$ 1,953	$ 3,653

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	238

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

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, 2023 and December 31, 2022 (in thousands):


	December 31, 2023		December 31, 2022
Land and buildings	$	243,679	$	239,207
Machinery and equipment	251,895		241,930
Leasehold improvements	41,074		54,388
Computer equipment and software	97,782		92,566
Furniture and fixtures	8,595		9,129
Assets under construction	197,670		142,560
Total property, plant and equipment, gross	$	840,695	$	779,780
Less: accumulated depreciation	(364,455)		(341,466)
Total property, plant and equipment, net	$	476,240	$	438,314

Depreciation expense was $50.5 million, $54.3 million and $84.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. During the years ended December 31, 2023, 2022 and 2021, the Company recorded property, plant and equipment impairment charges totaling $0.5 million, $9.0 million and $2.0 million, respectively. These charges are included in the Asset impairment charges line item in our Consolidated Statements of Operations and primarily reflect the write-off of certain property, plant and equipment.

At December 31, 2023 and December 31, 2022, $226.0 million and $205.2 million of the Company’s Property, plant and equipment, net, representing net book amounts, were located in India. At December 31, 2023 and December 31, 2022, there were no other material tangible long-lived assets located outside of the U.S., individually or in the aggregate.

SAVINGS AND INVESTMENT PLAN AND DEFERRED COMPENSATION PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure
Contributions towards defined contribution savings and investment plans	$ 5.7	$ 6.5	$ 7.6
Endo 401(k) Plan, Matching Tier One
Defined Benefit Plan Disclosure
Employer matching contribution (percent)	100.00%
Percentage of employees gross pay (percent)	3.00%
Endo 401(k) Plan, Matching Tier Two
Defined Benefit Plan Disclosure
Employer matching contribution (percent)	50.00%
Percentage of employees gross pay (percent)	2.00%
Endo 401(k) Plan
Defined Benefit Plan Disclosure
Maximum annual contributions per employee (percent)	4.00%
Vesting period	2 years

LEASES - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Right-of-use assets:
Operating lease right-of-use assets	$ 23,033	$ 28,070
Finance lease right-of-use assets	18,668	26,761
Total right-of-use assets	$ 41,701	$ 54,831
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Operating lease liabilities, excluding amounts classified as Liabilities subject to compromise:
Current operating lease liabilities	$ 956	$ 903
Noncurrent operating lease liabilities	4,132	5,129
Total operating lease liabilities	$ 5,088	$ 6,032
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current operating lease liabilities	Current operating lease liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Noncurrent operating lease liabilities	Noncurrent operating lease liabilities
Finance lease liabilities, excluding amounts classified as Liabilities subject to compromise:
Noncurrent finance lease liabilities	$ 1,386	$ 1,392
Total finance lease liabilities	$ 1,386	$ 1,392
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Operating and finance leases, amounts classified as Liabilities subject to compromise:
Operating lease liabilities	$ 20,635	$ 28,387
Finance lease liabilities	9,981	17,078
Total operating and finance leases classified as Liabilities subject to compromise	$ 30,616	$ 45,465

RESTRUCTURING - Changes to the Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
2020 Restructuring Initiative
Restructuring Reserve
Net (charge reversals) charges		$ 7,278	$ 68,469
2022 Restructuring Initiative
Restructuring Reserve
Net (charge reversals) charges		252,119
Employee Separation, Continuity and Other Benefit-Related Costs \| 2020 Restructuring Initiative
Restructuring Reserve
Beginning liability balance	$ 269	10,979	58,338
Net (charge reversals) charges	(198)	1,216	(7,384)
Cash payments	(71)	(11,926)	(39,975)
Ending liability balance	0	269	10,979
Employee Separation, Continuity and Other Benefit-Related Costs \| 2022 Restructuring Initiative
Restructuring Reserve
Beginning liability balance	14,997	0
Net (charge reversals) charges	(248)	28,345
Cash payments	(13,376)	(13,348)
Ending liability balance	1,373	14,997	0
Certain Other Restructuring Costs \| 2020 Restructuring Initiative
Restructuring Reserve
Beginning liability balance	0	205	664
Net (charge reversals) charges	0	796	3,711
Cash payments	0	(1,001)	(4,170)
Ending liability balance	0	0	205
Certain Other Restructuring Costs \| 2022 Restructuring Initiative
Restructuring Reserve
Beginning liability balance	0	0
Net (charge reversals) charges	0	1,102
Cash payments	0	(1,102)
Ending liability balance	0	0	0
Total \| 2020 Restructuring Initiative
Restructuring Reserve
Beginning liability balance	269	11,184	59,002
Net (charge reversals) charges	(198)	2,012	(3,673)
Cash payments	(71)	(12,927)	(44,145)
Ending liability balance	0	269	11,184
Total \| 2022 Restructuring Initiative
Restructuring Reserve
Beginning liability balance	14,997	0
Net (charge reversals) charges	(248)	29,447
Cash payments	(13,376)	(14,450)
Ending liability balance	$ 1,373	$ 14,997	$ 0

DEBT - Covenants and Events of Default (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument, Redemption [Line Items]
Interest expense, debt		$ 638,000	$ 231,000
Interest payments grace period	30 days	8 days
Adequate protection payments		$ 592,759	$ 313,109	$ 0
Increase in liabilities subject to compromise		$ 905,900
Senior Notes
Debt Instrument, Redemption [Line Items]
Interest rate (as a percent)		1.00%
Adequate protection payments		$ 482,700
Revolving Credit Facility
Debt Instrument, Redemption [Line Items]
Interest rate (as a percent)		2.00%
Adequate protection payments		$ 43,500
6.00% Senior Notes due 2028
Debt Instrument, Redemption [Line Items]
Debt interest payments	$ 38,000
Interest rate (as a percent)		6.00%
5.375% Senior Notes due 2023
Debt Instrument, Redemption [Line Items]
Debt interest payments	2,000
Interest rate (as a percent)		5.375%
6.00% Senior Notes due 2023
Debt Instrument, Redemption [Line Items]
Debt interest payments	2,000
Interest rate (as a percent)		6.00%
9.50% Senior Secured Second Lien Notes due 2027
Debt Instrument, Redemption [Line Items]
Debt interest payments	45,000
Interest rate (as a percent)		9.50%
6.00% Senior Notes due 2025
Debt Instrument, Redemption [Line Items]
Debt interest payments	$ 1,000
Interest rate (as a percent)		6.00%
Term Loan Facility
Debt Instrument, Redemption [Line Items]
Interest rate (as a percent)		2.00%
Adequate protection payments		$ 379,700

GOODWILL AND OTHER INTANGIBLES - Accumulated Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill
Accumulated impairment losses	$ 6,731,711	$ 6,719,678
Branded Pharmaceuticals
Goodwill
Accumulated impairment losses	855,810	855,810
Sterile Injectables
Goodwill
Accumulated impairment losses	2,208,000	2,208,000
Generic Pharmaceuticals
Goodwill
Accumulated impairment losses	3,142,657	3,142,657
International Pharmaceuticals
Goodwill
Accumulated impairment losses	$ 525,244	$ 513,211

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
OTHER COMPREHENSIVE INCOME (LOSS)	Dec. 31, 2023
Equity [Abstract]
OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 17. OTHER COMPREHENSIVE INCOME (LOSS) During the years ended December 31, 2023, 2022 and 2021 and 2022, 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, 2023 and December 31, 2022 consist of Foreign currency translation loss.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (2,449,807)	$ (2,923,105)	$ (613,245)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	3,179	(10,496)	1,308
Total other comprehensive income (loss)	3,179	(10,496)	1,308
COMPREHENSIVE LOSS	$ (2,446,628)	$ (2,933,601)	$ (611,937)

- 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

SEGMENT RESULTS - Narrative (Details)	12 Months Ended
SEGMENT RESULTS - Narrative (Details)	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	4

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
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)	235,219,612	235,208,039
Common stock, shares outstanding (in shares)	235,219,612	235,208,039

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Accrued expenses and reserves	$ 274,424	$ 220,415
Deferred interest deduction	492,394	421,552
Fixed assets, intangible assets and deferred amortization	549,715	560,257
Loss on capital assets	4,755	23,511
Net operating loss carryforward	15,478,840	9,214,688
Other	59,145	49,943
Research and development and other tax credit carryforwards	7,402	7,777
Total gross deferred income tax assets	16,866,675	10,498,143
Deferred tax liabilities:
Other	(9,148)	(3,156)
Investments	(136)	(107)
Intercompany notes	0	(72,286)
Total gross deferred income tax liabilities	(9,284)	(75,549)
Valuation allowance	(16,873,639)	(10,436,419)
Net deferred income tax liability	$ (16,248)	$ (13,825)

BANKRUPTCY PROCEEDINGS (Tables)

12 Months Ended

Dec. 31, 2023

Reorganizations [Abstract]

Schedule of Liabilities Subject to Compromise

The following table sets forth, as of December 31, 2023 and 2022, information about the amounts presented as Liabilities subject to compromise in our Consolidated Balance Sheets (in thousands):


	December 31, 2023		December 31, 2022
Accounts payable	$	32,281	$	30,317
Accrued interest	160,617		160,617
Debt	8,147,826		7,834,717
Litigation accruals	2,431,455		820,805
Uncertain tax positions	259,611		235,176
Other (1)	64,078		87,150
Total	$	11,095,868	$	9,168,782

__________

(1)Amounts include operating and finance lease liabilities as further described in Note 9. Leases, acquisition-related contingent consideration liabilities as further described in Note 7. Fair Value Measurements and a variety of other miscellaneous liabilities.

Schedule of Reorganization Item in Consolidated Condensed Statements of Operations

The following table sets forth, for the years ended December 31, 2023 and 2022, information about the amounts presented as Reorganization items, net in our Consolidated Statements of Operations (in thousands):



	2023		2022
Professional fees	$	264,093	$	113,781
Debt valuation adjustments	905,868		89,197

Total	$	1,169,961	$	202,978

CONTRACT ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2023

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 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, 2023, 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 income-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, 2023		December 31, 2022		$ Change		% Change
Contract assets (1)	$	11,387	$	8,193	$	3,194	39	%
Contract liabilities (2)	$	3,534	$	4,099	$	(565)	(14)	%

__________

During the year ended December 31, 2023, we recognized revenue of $20.3 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.

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SEGMENT RESULTS - Schedule of Reportable Segments Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information
Total net revenues from external customers	$ 2,011,518	$ 2,318,875	$ 2,993,206
Total segment adjusted income from continuing operations before income tax	871,091	1,072,031	1,573,010
Branded Pharmaceuticals
Segment Reporting Information
Total net revenues from external customers	859,087	851,142	893,617
Total segment adjusted income from continuing operations before income tax	459,309	366,554	384,186
Sterile Injectables
Segment Reporting Information
Total net revenues from external customers	429,563	589,633	1,266,097
Total segment adjusted income from continuing operations before income tax	157,179	349,424	998,453
Generic Pharmaceuticals
Segment Reporting Information
Total net revenues from external customers	650,352	795,457	740,586
Total segment adjusted income from continuing operations before income tax	237,870	336,133	160,046
International Pharmaceuticals
Segment Reporting Information
Total net revenues from external customers	72,516	82,643	92,906
Total segment adjusted income from continuing operations before income tax	$ 16,733	$ 19,920	$ 30,325

- 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.

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+ Details

BANKRUPTCY PROCEEDINGS

12 Months Ended

Dec. 31, 2023

Reorganizations [Abstract]

BANKRUPTCY PROCEEDINGS

NOTE 2. BANKRUPTCY PROCEEDINGS

Chapter 11 Filing

As noted above, on the Petition Date, certain of the Debtors filed voluntary petitions for relief under the Bankruptcy Code. Certain additional Debtors filed voluntary petitions for relief under the Bankruptcy Code on May 25, 2023 and May 31, 2023. The Debtors have received approval from the U.S. Bankruptcy Court for the Southern District of New York (the Bankruptcy Court) to jointly administer their chapter 11 cases (the Chapter 11 Cases) for administrative purposes only pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure under the caption In re Endo International plc, et al. Certain entities consolidated by Endo International plc and included in these Consolidated Financial Statements are not party to the Chapter 11 Cases. These entities are collectively referred to herein as the Non-Debtor Affiliates.

The Debtors will continue to operate their businesses and manage their properties as debtors-in-possession pursuant to sections 1107 and 1108 of the Bankruptcy Code. As debtors-in-possession, the Debtors are generally permitted to continue to operate as ongoing businesses and pay debts and honor obligations arising in the ordinary course of their businesses after the Petition Date. However, the Debtors generally may not pay third-party claims or creditors on account of obligations arising before the Petition Date or engage in transactions outside the ordinary course of business without approval of the Bankruptcy Court. Under the Bankruptcy Code, third-party actions to collect pre-petition indebtedness owed by the Debtors, as well as most litigation pending against the Debtors as of the Petition Date, are generally subject to an automatic stay. However, under the Bankruptcy Code, certain legal proceedings, such as those involving the assertion of a governmental entity’s police or regulatory powers, may not be subject to the automatic stay and may continue unless otherwise ordered by the Bankruptcy Court.

Among other requirements, chapter 11 proceedings must comply with the priority scheme established by the Bankruptcy Code, under which certain post-petition and secured or “priority” pre-petition liabilities generally need to be satisfied before general unsecured creditors and shareholders are entitled to receive any distribution.

Under the Bankruptcy Code, the Debtors may assume, modify, assign or reject certain executory contracts and unexpired leases, including, without limitation, leases of real property and equipment, subject to the approval of the Bankruptcy Court and certain other conditions. Generally, the rejection of an executory contract or unexpired lease is treated as a pre-petition breach of such executory contract or unexpired lease and, subject to certain exceptions, relieves the Debtors from performing their future obligations under such executory contract or unexpired lease but entitles the contract counterparty or lessor to a pre-petition general unsecured claim for damages caused by such deemed breach. Generally, the assumption of an executory contract or unexpired lease requires the Debtors to cure existing monetary defaults under such executory contract or unexpired lease and provide adequate assurance of future performance. Accordingly, any description of an executory contract or unexpired lease in this report, including, where applicable, the express termination rights thereunder or a quantification of obligations, must be read in conjunction with, and is qualified by, any overriding rejection rights the Debtors have under the Bankruptcy Code.

To ensure their ability to continue operating in the ordinary course of business, the Debtors have filed with the Bankruptcy Court a variety of motions seeking “first day” relief, including the authority to access cash collateral, continue using their cash management system, pay employee wages and benefits and pay vendors in the ordinary course of business. At a hearing held on August 18, 2022, the Bankruptcy Court generally approved the relief sought in these motions on an interim basis. Following subsequent hearings held on September 28, 2022, October 13, 2022 and October 19, 2022, the Bankruptcy Court entered orders approving substantially all of the relief sought on a final basis.

Events of Default

The August 16, 2022 bankruptcy filings by the Debtors constituted an event of default that accelerated our obligations under substantially all of our then-outstanding debt instruments. However, section 362 of the Bankruptcy Code stays creditors from taking any action to enforce the related financial obligations and creditors’ rights of enforcement in respect of the debt instruments are subject to the applicable provisions of the Bankruptcy Code. Refer to Note 15. Debt for additional information.

Restructuring Support Agreement and Marketing Process

On August 16, 2022, we entered into a Restructuring Support Agreement (as amended, the RSA) with an ad hoc group (the Ad Hoc First Lien Group) of certain creditors holding in excess of 50% of the aggregate outstanding principal amount of Secured Debt (as defined in that certain collateral trust agreement, dated as of April 27, 2017, among Endo International plc, certain subsidiaries of Endo International plc, the other grantors from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent under the Credit Agreement (as defined below), and Wells Fargo Bank, National Association, as indenture trustee, and Wilmington Trust, National Association, as collateral trustee (the Collateral Trust Agreement)), pursuant to which, among other things, one or more entities formed in a manner acceptable to the Ad Hoc First Lien Group (the Purchaser) agreed to serve as stalking horse bidder in connection with the proposed sale of all or substantially all of our assets pursuant to section 363 of the Bankruptcy Code (the Sale).

As described in the RSA, the Purchaser’s bid (the Stalking Horse Bid), which was subject to higher or otherwise better bids from other parties, included an offer to purchase substantially all of our assets for an aggregate purchase price including: (i) a credit bid in full satisfaction of the Prepetition First Lien Indebtedness (as defined in the RSA); (ii) $5 million in cash on account of certain unencumbered assets; (iii) $122 million to wind-down our operations following the Sale closing date (the Wind-Down Amount); (iv) pre-closing professional fees; and (v) the assumption of certain liabilities. As part of the Stalking Horse Bid, the Purchaser agreed to make offers of employment to all of our active employees. The proposed purchase and sale agreement with respect to the Stalking Horse Bid was filed with the Bankruptcy Court on November 23, 2022, and amended versions were subsequently filed with the Bankruptcy Court several times, including most recently on August 3, 2023.

On November 23, 2022, we filed: (i) a motion seeking Bankruptcy Court approval of bidding procedures in connection with the Sale and (ii) a motion seeking to set deadlines (bar dates) for all claimants to file claims against the Debtors. At a hearing on December 15, 2022, the Bankruptcy Court directed the Debtors and certain key parties in interest in the Chapter 11 Cases to participate in a mediation process to attempt to resolve certain objections and contested issues relating to the bidding procedures motion, the Sale and other critical matters in the Chapter 11 Cases.

In March 2023, the Debtors announced that, as a result of the mediation process, the Ad Hoc First Lien Group (and Purchaser) reached certain resolutions in principle with both the unsecured creditors' committee (the UCC) and opioid claimants' committee (the OCC) appointed in the Chapter 11 Cases and certain ad hoc groups of debtholders. These resolutions, documented in the stipulation filed with the Bankruptcy Court on March 24, 2023 (and described in further detail below), were supported by the Debtors. Following a hearing, the Bankruptcy Court entered orders on April 3, 2023 approving the bidding procedures motion (the Bidding Procedures Order) and the bar date motion, which established deadlines by which claimants must file proofs of claims with the Bankruptcy Court.

As part of the Bidding Procedures Order, the Bankruptcy Court also approved certain internal restructuring transactions under Irish law that would allow us to pursue the Sale in a tax efficient manner (the Reconstruction Steps). The Reconstruction Steps were completed on May 31, 2023, and involved, among other things: (i) the conversion from private limited companies to private unlimited companies under Irish law of our subsidiaries Endo Ventures Limited and Endo Global Biologics Limited and their re-registration as EVU and Endo Global Biologics Unlimited (EGBU), respectively; and (ii) the transfer of the business and assets of EVU and EGBU to our newly-formed subsidiaries Operand Pharmaceuticals II Limited and Operand Pharmaceuticals III Limited.

As contemplated by the RSA, the bidding procedures order approved a marketing process and auction that was conducted under the supervision of the Bankruptcy Court, during which interested parties had an opportunity to conduct due diligence and determine whether to submit a bid to acquire the Debtors’ assets. In the months following the entry of the Bidding Procedures Order, the Company conducted a robust marketing process. Following the passing of the deadline for potential bidders to submit indications of interest, on June 20, 2023, in accordance with the Bidding Procedures Order, the Company filed with the Bankruptcy Court a notice of termination of the sale and marketing process, naming the Purchaser as the Successful Bidder (as defined in the Bidding Procedures Order) and accelerating the hearing to approve the Sale from August 31, 2023 to July 28, 2023. The hearing to approve the Sale was subsequently adjourned several times as negotiations continued with our stakeholders and we explored alternative restructuring transactions.

On December 28, 2023, we filed an amended version of the RSA. The amended RSA reflects the terms of our proposed Plan (as defined and discussed in more detail below) while preserving our rights and the rights of the Ad Hoc First Lien Group to toggle back to a standalone sale under section 363 of the Bankruptcy Code.

Pursuant to the amended RSA, each of the parties agreed to, among other things, take all actions as are necessary and appropriate to facilitate the implementation and consummation of the Restructuring (as defined in the amended RSA), negotiate in good faith certain definitive documents relating to the Restructuring and obtain required approvals. In addition, we agreed to conduct our business in the ordinary course, provide notice and certain materials relating to the Restructuring to the consenting creditors’ advisors and pay certain fees and expenses of the consenting creditors. The amended RSA further contemplates that the Purchaser will fund one or more trusts for parties with opioid-related claims against us, as further discussed in Note 16. Commitments and Contingencies.

The amended RSA provides certain milestones for the Restructuring. If we fail to satisfy these milestones and such failure is not the result of a breach of the amended RSA by the Required Consenting First Lien Creditors (as defined in the RSA), the Required Consenting First Lien Creditors will have the right to terminate the amended RSA. These milestones, (which may be further modified from time to time) include: (i) not later than 11:59 p.m. prevailing Eastern Time on January 17, 2024, the Bankruptcy Court shall have entered an order conditionally approving our disclosure statement and related solicitation materials; (ii) not later than 11:59 p.m. prevailing Eastern Time on March 22, 2024, the Bankruptcy Court shall have entered one or more orders confirming our Plan and approving the backstop commitment agreements and related subscription materials; and (iii) not later than 11:59 p.m. prevailing Eastern Time on April 22, 2024, the Plan shall have gone effective. The amended RSA also includes certain milestones that would apply if we toggle back to a standalone sale under section 363 of the Bankruptcy Code. As of the date of this report, milestone (i) referenced above has been satisfied. Each of the parties to the amended RSA may terminate the agreement (and thereby their support for the Plan) under certain limited circumstances, including for material breaches and materially untrue representations and warranties by their counterparties, if a governmental agency enjoins the Plan or if the purchase and sale agreement with respect to the sale contemplated by the Plan is terminated under certain circumstances.

On January 12, 2024, the Bankruptcy Court entered an order conditionally approving our disclosure statement which authorized us to solicit votes on our Plan. The Bankruptcy Court also scheduled a combined hearing for: (i) final approval of the disclosure statement as containing “adequate information” as required by the Bankruptcy Code; and (ii) confirmation of the Plan for March 19, 2024.

The Chapter 11 Proceedings

Cash Collateral

As part of the RSA, the Company and the Ad Hoc First Lien Group agreed on the terms of a proposed order authorizing the Company’s use of cash collateral (as modified and entered by the Bankruptcy Court on a final (amended) basis in October 2022, the Cash Collateral Order) in connection with the Chapter 11 Cases on certain terms and conditions set forth therein. The Debtors intend to use the cash collateral to, among other things, permit the orderly continuation of their businesses, pay the costs of administration of their estates and satisfy other working capital and general corporate purposes.

The Cash Collateral Order: (i) obligates the Debtors to make certain adequate protection payments during the bankruptcy proceedings, which are further discussed in Note 15. Debt of this report; (ii) establishes a budget for the Debtors’ use of cash collateral; (iii) establishes certain informational rights for the Debtors’ secured creditors; (iv) provides for the waiver of certain Bankruptcy Code provisions; and (v) requires the Debtors to maintain at least $600.0 million of “liquidity,” calculated at the end of each week as unrestricted cash and cash equivalents plus certain specified amounts of restricted cash associated with the TLC Agreement, which is defined and further discussed below in Note 12. License, Collaboration and Asset Acquisition Agreements.

The foregoing description of the Cash Collateral Order does not purport to be complete and is qualified in its entirety by reference to the Cash Collateral Order entered by the Bankruptcy Court in the Chapter 11 Cases.

Claims Reconciliation Process

In November 2022, the Debtors filed with the Bankruptcy Court schedules and statements, subject to further amendment or modification, which set forth, among other things, the assets and liabilities of each of the Debtors, subject to the assumptions filed in connection therewith.

As part of the Chapter 11 Cases, persons and entities believing that they have claims or causes of action against the Debtors may file proofs of claim evidencing such claims. As noted above, the Debtors have filed a motion seeking to set a bar date (deadline) for holders of claims to file proofs of claim (including general claims and claims of governmental units). On April 3, 2023, the Bankruptcy Court entered an order, as subsequently amended on June 23, 2023 and July 14, 2023 (the Bar Date Order) setting July 7, 2023 as the general bar date (deadline) for persons and non-governmental entities to file proofs of claim against the Debtors. The Bankruptcy Court also set May 31, 2023 as the bar date for governmental entities to file claims other than certain claims relating to opioids against the Debtors. Certain claims, including most governmental claims relating to opioids, are subject to separate bar date procedures as set forth in more detail in the Bar Date Order.

As of February 28, 2024, approximately 907,100 claims, totaling approximately $979 billion, have been filed against the Debtors, including, in certain cases, duplicate claims across multiple Debtors. For example, the IRS has filed multiple proofs of claim against several of the Debtors, as further discussed in Note 21. Income Taxes. As claims are filed, they are being evaluated for validity and compared to amounts recorded in our accounting records. Due to the voluminous number of claims received, Endo is continuing to review the proofs of claims filed in the Chapter 11 Cases to identify which, if any, additional claims constitute unresolved claims not previously known. As of the date of this report, the amounts of certain of the claims received exceed the amounts of the corresponding liabilities, if any, that we have recorded based on our assessments of the purported liabilities underlying such claims, and it is likely this will continue to be the case in future periods. We are not aware of any claims that we currently expect will require a material adjustment to the Consolidated Financial Statements.

Differences in amounts recorded and claims filed by creditors will continue to be investigated and resolved, including through the filing of objections with the Bankruptcy Court, where appropriate. The Debtors may ask the Bankruptcy Court to disallow claims that the Debtors believe are duplicative, have been later amended or superseded, are without merit, are overstated or should be disallowed for other reasons. In addition, as a result of this process, the Debtors may identify additional liabilities that will need to be recorded or reclassified to Liabilities subject to compromise in the Consolidated Balance Sheets. In light of the substantial number of claims that have been filed as of the date of this report and may be filed in the future, the claims resolution process may take considerable time to complete and may continue for the duration of the Debtors’ bankruptcy proceedings.

Resolutions in the Chapter 11 Cases

In March 2023, the Debtors announced that, in connection with the mediation process and as referenced in an amended RSA, the Ad Hoc First Lien Group (and Purchaser) reached certain resolutions in principle with the UCC and the OCC appointed in the Chapter 11 Cases and certain ad hoc groups of debtholders. In July 2023, the Debtors announced an additional resolution between the Purchaser and the Future Claimants' Representative (the FCR). In August 2023, a resolution was reached between the Purchaser and an ad hoc group of public school district creditors (the Public School District Creditors). In September 2023, a resolution was reached between the Purchaser and certain Canadian governmental entities that had previously filed an objection to the Sale (the Canadian Provinces). In February 2024, the Debtors announced an agreed resolution with the DOJ, acting on behalf of itself and certain other agencies of the U.S. federal government. The DOJ resolution formalized the terms of the economic agreement in principle announced by the Ad Hoc First Lien Group in November 2023 and set forth certain non-economic terms mutually agreed upon by the parties. The foregoing resolutions, which are set forth in greater detail in the solicitation version of the disclosure statement filed with the Bankruptcy Court on January 16, 2024, and, in the case of the DOJ resolution, in the notice filed with the Bankruptcy Court on February 29, 2024, are supported by the Debtors.

The resolution reached with the UCC provides that, on or prior to the effective date of the Plan, the Debtors will establish a trust for the benefit of eligible general unsecured creditors. As consideration, the trust will receive, among other things: (i) $60 million in cash; (ii) up to 4.02% of equity in the Purchaser (subject to dilution by equity issued pursuant to rights offerings and under the management incentive plan); (iii) a litigation trust, which will have the right to pursue certain estate claims and causes of action against (1) non-continuing directors and former officers (as against and subject to a maximum recovery available under certain specified insurance policies and proceeds), (2) certain third-party advisors to the Debtors, and (3) certain additional third parties, including parties to certain pre-petition transactions with the Debtors; and (iv) a rights offering for certain eligible trust beneficiaries, subject to certain subscription requirements, for up to $160 million of equity in the Purchaser. The resolution also contemplated a fee cap of $15 million for the UCC professionals for any work done between April 1, 2023 and October 31, 2023.

The resolution reached with the OCC provides that, on or prior to the effective date of the Plan, the Purchaser will create a trust for the benefit of certain private present opioid claimants (such as non-governmental entities). As consideration, the trust will receive, among other things, $119.2 million of gross cash consideration payable in three installments (subject to the Purchaser's exercise of certain prepayment options and triggers) to be distributed to eligible private present opioid claimants. An additional $0.5 million will be funded to the trust by certain third parties, for a total of $119.7 million in aggregate consideration being funded to the trust. As set forth in the amended RSA, the Purchaser has agreed, on or prior to the effective date of the Plan, to fund a trust for the benefit of certain public and tribal opioid claimants. The trust to be created pursuant to the resolution reached with the OCC is intended to be structured similarly to the public/tribal opioid trust and includes prepayment obligations triggered upon certain prepayments made to the public/tribal opioid trust. The resolution also contemplated a fee cap of $8.5 million for opioid claimants’ committee hourly professionals for work done between April 1, 2023 and October 31, 2023. From November 1, 2023 through the effective date of the Plan, the OCC fees are subject to a monthly cap of $0.5 million subject to certain carve-outs and limitations pursuant to the OCC resolution.

The resolution reached with the FCR provides that, on or prior to the effective date of the Plan, the Purchaser will create personal injury trusts (the Future PI Trust) for the benefit of certain private opioid and mesh claimants whose first injury did not arise until after the applicable bar date. As consideration, the Future PI Trust will receive, among other things, $11.9 million of gross cash consideration payable in installments to be distributed to eligible private future opioid and mesh claimants.

The resolution reached with the Public School District Creditors provides that, on or prior to the effective date of the Plan, the Purchaser will fund an opioid school district recovery trust for the benefit of public school districts that elect to participate. As consideration, the trust will receive up to $3 million of gross cash consideration payable in installments to provide grants and other funding to participating school districts for the purpose of funding opioid abuse/misuse abatement or remediation programs.

The resolution reached with the Canadian Provinces provides that, on the effective date of the Plan, the Debtors will establish a trust for the benefit of the Canadian Provinces. As consideration, the trust will receive $7.3 million of gross cash consideration payable in installments expected to be used for government programs and services aimed at assisting Canadians who suffer from opioid misuse or addiction disorder.

The resolution reached with the Ad Hoc First Lien Group and the DOJ with respect to claims filed in the Chapter 11 Cases by the United States of America, acting through the United States Attorney’s Office for the Southern District of New York, for and on behalf of: (i) the United States Department of Justice Civil Division’s Consumer Protection Branch; (ii) the United States Attorney’s Office for the Southern District of Florida; (iii) the United States Department of Justice Civil Division’s Fraud Section, acting on behalf of the Office of Inspector General of the Department of Health and Human Services, the Defense Health Agency, as administrator of the TRICARE program, the Office of Personnel Management, as administrator of the Federal Employees Health Benefits program, and the VA; (iv) the IRS; (v) HHS, CMS and Indian Health Service; and (vi) the VA (collectively, the U.S. Government), including criminal, civil and tax-related claims provides for payment by Endo of $364.9 million over 10 years, or $200 million if the obligation is paid in full on the Plan effective date, plus contingent consideration of $25 million in each of 2024 through 2028 (up to $100 million in aggregate) if our Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) sufficiently exceeds defined baselines (U.S. Government Economic Settlement). The resolution further contemplates that Endo’s subsidiary, EHSI, will enter into a plea agreement and civil settlement agreement in resolution of the DOJ’s criminal and civil investigations of the Debtors. The plea agreement contemplates that EHSI will plead guilty to a single misdemeanor violation of the Food, Drug, and Cosmetic Act, contrary to Title 21, United States Code, Sections 331(a), 333(a)(1), and 352(f)(1). Pursuant to the plea agreement, EHSI will be subject to a criminal fine of $1,086 million, which will be treated as an allowed, general unsecured claim in the Chapter 11 Cases, and a criminal forfeiture judgment in the amount of $450 million. Pursuant to the civil settlement agreement, the Debtors agree that the U.S. Government shall have an allowed, general unsecured claim in the Chapter 11 Cases in the amount of approximately $476 million. The claims brought against the Debtors by the IRS will be deemed to be, in part, an allowed, unsubordinated priority claim and, in part, an allowed, unsubordinated general unsecured claim, each in such amount equal to the settlement amounts to be received by the IRS as allocated by the U.S. Government. The criminal fine, civil settlement agreement amount and the IRS claims will be satisfied in full by the payments made pursuant to the U.S. Government Economic Settlement. The criminal forfeiture judgment will be deemed satisfied in full by payments made to state opioid claimants pursuant to the Plan.

In connection with the resolutions, the UCC, the OCC, the FCR, the Public School District Creditors, the Canadian Provinces, the ad hoc groups of debtholders party thereto and the DOJ have agreed to support the Plan.

Chapter 11 Plan of Reorganization

On December 19, 2023, we filed a proposed chapter 11 plan of reorganization (as amended, including on January 5, 2024 and January 9, 2024, and including any future amendments, exhibits and supplements filed with respect thereto, the Plan) and related disclosure statement with the Bankruptcy Court. The Plan contemplates a sale of substantially all of our assets on substantially similar terms to the proposed 363 sale to the Purchaser, including the assumption of certain liabilities, and offers of employment to all of our active team members, and reflects the resolutions described above.

Under the Plan, our first lien creditors would receive 96.3% of equity in a new entity formed to acquire our assets and an opportunity to participate in a rights offering, and second lien creditors and unsecured noteholders would receive the remaining 3.7% of the equity (both subject to dilution). Second lien creditors and unsecured noteholders would also receive $23.3 million in cash, certain proceeds of litigation claims and insurance rights, and the opportunity to participate in a $160 million rights offering (which was subscribed in July 2023). Other general unsecured creditors would receive up to $2 million in cash and a small percentage of the proceeds of trust litigation claims and insurance rights, subject to certain qualifications. Opioid claimants would receive distributions from certain trusts and sub-trusts, including pursuant to the resolutions described above, as follows: $460 million in installments for state opioid claimants (subject to certain prepayment rights), $119.7 million in installments for several subclasses of private opioid claimants (subject to certain prepayment rights), up to $15 million for tribal opioid claimants and up to approximately $11.4 million for future opioid claimants. The Plan also provides for the treatment of opioid claims held by other claimants, including public school districts, Canadian provinces and foreign holders of claims against certain foreign entities who file proofs of claim against us by a date certain (but after the general bar date). The Plan contemplates that we will use the, among other things, net proceeds from a potential exit financing facility (to the extent implemented), net proceeds from proposed rights offerings, cash on hand and certain litigation consideration to fund Plan distributions.

In addition to the previously reached settlements, the Plan also incorporates the recently announced economic settlement in principle with the DOJ, described above.

The Plan also sets forth a post-reorganization governance structure and includes releases for us and certain other parties. It is subject to certain conditions precedent and confirmation by the Bankruptcy Court. We currently anticipate seeking Bankruptcy Court confirmation of our proposed Plan on March 19, 2024.

To protect our Irish entities and assets from the risk of value-destructive litigation and enforcement efforts not enjoined by the Plan, we are also proposing an Irish scheme of arrangement in parallel with the Plan to implement certain terms of the Plan as a matter of Irish law. If the scheme of arrangement is approved by the required creditors and sanctioned by the High Court of Ireland, all claims against us covered by the scheme will be completely released and discharged as a matter of Irish law.

Bankruptcy Accounting

As a result of the Chapter 11 Cases, we have applied the provisions of ASC 852 in preparing the accompanying Consolidated Financial Statements. ASC 852 requires that, for periods including and after the filing of a chapter 11 petition, the Consolidated Financial Statements distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business.

Accordingly, for periods beginning with the third quarter of 2022, pre-petition unsecured and undersecured claims related to the Debtors that may be impacted by the bankruptcy reorganization process have been classified as Liabilities subject to compromise in the Consolidated Balance Sheets. Liabilities subject to compromise include pre-petition liabilities for which there is uncertainty about whether such pre-petition liabilities could be impaired as a result of the Chapter 11 Cases. Liabilities subject to compromise are recorded at the expected amount of the total allowed claim, even if they may ultimately be settled for different amounts. The following table sets forth, as of December 31, 2023 and 2022, information about the amounts presented as Liabilities subject to compromise in our Consolidated Balance Sheets (in thousands):


	December 31, 2023		December 31, 2022
Accounts payable	$	32,281	$	30,317
Accrued interest	160,617		160,617
Debt	8,147,826		7,834,717
Litigation accruals	2,431,455		820,805
Uncertain tax positions	259,611		235,176
Other (1)	64,078		87,150
Total	$	11,095,868	$	9,168,782

__________

The determination of how liabilities will ultimately be settled or treated cannot be made until the Plan is confirmed by the Bankruptcy Court. Therefore, the amounts in the table above are preliminary and may be subject to future adjustments as a result of, among other things, the possibility or occurrence of certain Bankruptcy Court actions, further developments with respect to disputed claims, any rejection by us of executory contracts and/or any payments by us of amounts classified as Liabilities subject to compromise, which may be allowed in certain limited circumstances. Amounts are also subject to adjustments if we make changes to our assumptions or estimates related to claims as additional information becomes available to us including, without limitation, those related to the expected amounts of allowed claims, the value of any collateral securing claims and the secured status of claims. Such adjustments may be material. Additionally, as a result of our ongoing bankruptcy proceedings, we may sell or otherwise dispose of or liquidate assets or settle liabilities for amounts other than those reflected in the accompanying Consolidated Financial Statements. The possibility or occurrence of any such actions could materially impact the amounts and classifications of such assets and liabilities reported in our Consolidated Balance Sheets and could have a material adverse effect on our business, financial condition, results of operations and cash flows.

Certain expenses, gains and losses resulting from and recognized during our bankruptcy proceedings are now being recorded in Reorganization items, net in our Consolidated Statements of Operations. The following table sets forth, for the years ended December 31, 2023 and 2022, information about the amounts presented as Reorganization items, net in our Consolidated Statements of Operations (in thousands):



	2023		2022
Professional fees	$	264,093	$	113,781
Debt valuation adjustments	905,868		89,197

Total	$	1,169,961	$	202,978

During the years ended December 31, 2023 and 2022, our operating cash flows included net cash outflows of $261.3 million and $53.7 million, respectively, related to amounts classified or expected to be classified as Reorganization items, net, which primarily consisted of payments for professional fees.

Refer also to Note 15. Debt for information about the non-cash debt valuation adjustments reflected in Reorganization items, net, as well as how our bankruptcy proceedings and certain related developments have affected our debt service payments and how such payments are being reflected in our Consolidated Financial Statements.

Nasdaq Delisting

On August 17, 2022, we received a letter (the Notice) from The Nasdaq Stock Market LLC (Nasdaq) stating that, in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq had determined that Endo’s ordinary shares would be delisted. In accordance with the Notice, trading of Endo’s ordinary shares was suspended at the opening of business on August 26, 2022. As a result, Endo’s ordinary shares began trading exclusively on the over-the-counter market on August 26, 2022. On the over-the-counter market, Endo’s ordinary shares, which previously traded on the Nasdaq Global Select Market under the symbol ENDP, began to trade under the symbol ENDPQ. On September 14, 2022, Nasdaq filed a Form 25-NSE with the SEC and Endo’s ordinary shares were subsequently delisted from the Nasdaq Global Select Market. On December 13, 2022, Endo’s ordinary shares were deregistered under Section 12(b) of the Exchange Act.

NOTE 23. CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION

The financial statements included in this Note represent the Condensed Combined Financial Statements of the Debtors only, which include Endo International plc and most of its wholly-owned subsidiaries, except for its Indian subsidiaries and certain subsidiaries associated with the Company’s former Astora business. These statements reflect the results of operations, financial position and cash flows of the combined Debtors, including certain amounts and activities between Debtors and Non-Debtor Affiliates of the Company that are eliminated in the Consolidated Financial Statements.





CONDENSED COMBINED BALANCE SHEETS
(Dollars in thousands)

	December 31, 2023		December 31, 2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	735,927	$	991,901
Restricted cash and cash equivalents	81,806		59,358
Accounts receivable, net	375,613		478,889
Inventories, net	219,230		241,349
Prepaid expenses and other current assets	68,245		111,807
Income taxes receivable	7,715		7,038

Receivables from Non-Debtor Affiliates	100,829		94,608
Total current assets	$	1,589,365	$	1,984,950

PROPERTY, PLANT AND EQUIPMENT, NET	250,286		233,114
OPERATING LEASE ASSETS	19,002		23,200
GOODWILL	1,352,011		1,352,011
OTHER INTANGIBLES, NET	1,477,883		1,732,935

INVESTMENTS IN NON-DEBTOR AFFILIATES	48,253		50,001
RECEIVABLES FROM NON-DEBTOR AFFILIATES	258,445		240,002
OTHER ASSETS	134,224		126,494
TOTAL ASSETS	$	5,129,469	$	5,742,707
LIABILITIES AND DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses	$	510,697	$	654,414

Current portion of operating lease liabilities	248		230

Income taxes payable	181		10

Payables to Non-Debtor Affiliates	14,419		20,162
Total current liabilities	$	525,545	$	674,816
DEFERRED INCOME TAXES	16,248		13,479


OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	750		994

OTHER LIABILITIES	74,223		37,367
LIABILITIES SUBJECT TO COMPROMISE	11,095,868		9,168,782
TOTAL DEFICIT	(6,583,165)		(4,152,731)
TOTAL LIABILITIES AND DEFICIT	$	5,129,469	$	5,742,707





CONDENSED COMBINED STATEMENTS OF OPERATIONS
(Dollars in thousands)


	2023		2022
TOTAL REVENUES, NET	$	2,011,565	$	2,321,426
COSTS AND EXPENSES:
Cost of revenues	954,349		1,106,855
Selling, general and administrative	558,183		764,768
Research and development	124,987		137,851
Acquired in-process research and development	—		68,700
Litigation-related and other contingencies, net	1,611,090		478,722
Asset impairment charges	503		2,137,107
Acquisition-related and integration items, net	1,972		408

Interest (income) expense, net	(11,660)		345,593

Reorganization items, net	1,169,961		202,978
Other income, net	(9,330)		(13,409)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	$	(2,388,490)	$	(2,908,147)
INCOME TAX EXPENSE	52,521		17,721
LOSS FROM CONTINUING OPERATIONS	$	(2,441,011)	$	(2,925,868)
DISCONTINUED OPERATIONS, NET OF TAX	(2,021)		(13,468)
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES	$	(2,443,032)	$	(2,939,336)
EQUITY IN LOSS OF NON-DEBTOR AFFILIATES, NET OF TAX	(1,822)		22,671
NET LOSS	$	(2,444,854)	$	(2,916,665)





CONDENSED COMBINED STATEMENTS OF COMPREHENSIVE LOSS
(Dollars in thousands)


	2023		2022
NET LOSS	$	(2,444,854)	$	(2,916,665)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	$	3,179	$	(10,496)
Total other comprehensive income (loss)	$	3,179	$	(10,496)
COMPREHENSIVE LOSS	$	(2,441,675)	$	(2,927,161)





CONDENSED COMBINED STATEMENTS OF CASH FLOWS
(Dollars in thousands)


	2023		2022
OPERATING ACTIVITIES:
Net cash provided by operating activities (1)	$	416,541	$	209,523
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(67,149)		(43,743)
Capitalized interest payments	—		(3,140)
Proceeds from the U.S. Government Cooperative Agreement	39,397		18,635

Acquisitions, including in-process research and development, net of cash and restricted cash acquired	—		(90,320)




Proceeds from sale of business and other assets	5,134		41,400
Proceeds from loans made to Non-Debtor Affiliates	1,572		2,355
Disbursements for loans made to Non-Debtor Affiliates	(25,243)		(51,486)

Net cash used in investing activities	$	(46,289)	$	(126,299)
FINANCING ACTIVITIES:


Repayments of notes	—		(180,342)
Repayments of term loans	—		(10,000)


Adequate protection payments	(592,759)		(313,109)
Repayments of other indebtedness	(6,733)		(6,062)

Payments for contingent consideration	(5,136)		(2,462)
Payments of tax withholding for restricted shares	—		(1,898)


Net cash used in financing activities	$	(604,628)	$	(513,873)
Effect of foreign exchange rate	850		(1,790)

NET DECREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	$	(233,526)	$	(432,439)
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,136,259		1,568,698
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	$	902,733	$	1,136,259

__________

(1)The difference between the amount of Net cash provided by operating activities included in the table above and the amount of Net cash provided by operating activities included in the Consolidated Statements of Cash Flows for the same period primarily relates to the fact that the table above: (i) excludes the operating cash flows of our Non-Debtor Affiliates, which are included in the Consolidated Statements of Cash Flows, and (ii) includes the effects of the operating cash flows of the Debtors with the Non-Debtor Affiliates, which are eliminated in the Consolidated Statements of Cash Flows.

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 6,811	$ 10,959	$ 13,892
Finance lease cost:
Amortization of right-of-use assets	8,096	8,479	9,244
Interest on lease liabilities	781	1,127	1,480
Other lease costs and income:
Variable lease costs	10,913	11,707	13,202
Finance lease right-of-use asset impairment charges	0	3,063	0
Sublease income	(5,616)	(6,436)	(3,793)
Cost of revenues
Lessee, Lease, Description
Lease, cost	6,150	6,189	11,316
Selling, general and administrative
Lessee, Lease, Description
Lease, cost	13,952	18,305	21,013
Research and development
Lessee, Lease, Description
Lease, cost	$ 102	$ 215	$ 216

RESTRUCTURING - Pre-tax Net Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net restructuring charges (charge reversals) related to:
Asset impairments	$ 503	$ 2,142,746	$ 414,977
2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Accelerated depreciation		3,773	24,718
Asset impairments		0	42,155
Inventory adjustments		1,494	6,968
Employee separation, continuity and other benefit-related costs		1,216	(7,384)
Certain other restructuring costs		795	2,012
Total		7,278	$ 68,469
2022 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Asset impairments		180,248
Inventory adjustments		34,870
Employee separation, continuity and other benefit-related costs		28,345
Certain other restructuring costs		8,656
Total		$ 252,119

OTHER INCOME, NET - Schedule of Components of Other Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Component of Operating Income [Abstract]
Net gain on sale of business and other assets	$ (10,392)	$ (26,183)	$ (4,516)
Foreign currency loss (gain), net	1,779	(2,087)	1,253
Net (gain) loss from our investments in the equity of other companies	(199)	378	453
Other miscellaneous, net	(876)	(6,162)	(16,964)
Other income, net	$ (9,688)	$ (34,054)	(19,774)
Gain from prior contract dispute			$ 15,500

NET LOSS PER SHARE - Reconciliation of the Numerator and Denominator of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Loss from continuing operations	$ (2,447,786)	$ (2,909,618)	$ (569,081)
(Loss) income from discontinued operations, net of tax	(2,021)	(13,487)	(44,164)
NET LOSS	$ (2,449,807)	$ (2,923,105)	$ (613,245)
Denominator:
For basic per share data—weighted average shares (in shares)	235,219	234,840	232,785
Dilutive effect of ordinary share equivalents (in shares)	0	0	0
For diluted per share data—weighted average shares (in shares)	235,219	234,840	232,785

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.13)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ 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

GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

NOTE 11. GOODWILL AND OTHER INTANGIBLES

Goodwill

Changes in the carrying amounts of our goodwill for the years ended December 31, 2023 and December 31, 2022 were as follows (in thousands):


	Branded Pharmaceuticals		Sterile Injectables		Generic Pharmaceuticals		International Pharmaceuticals		Total
Goodwill as of December 31, 2021	$	828,818	$	2,368,193	$	—	$	—	$	3,197,011


Goodwill impairment charges	—		(1,845,000)		—		—		(1,845,000)

Goodwill as of December 31, 2022	$	828,818	$	523,193	$	—	$	—	$	1,352,011



Goodwill as of December 31, 2023	$	828,818	$	523,193	$	—	$	—	$	1,352,011

The carrying amounts of goodwill at December 31, 2023 and December 31, 2022 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, 2022	$	855,810	$	2,208,000	$	3,142,657	$	513,211	$	6,719,678
Accumulated impairment losses as of December 31, 2023	$	855,810	$	2,208,000	$	3,142,657	$	525,244	$	6,731,711

Other Intangible Assets

Changes in the amounts of other intangible assets for the year ended December 31, 2023 are set forth in the table below (in thousands).


Cost basis:	Balance as of December 31, 2022		Acquisitions		Other (1)		Effect of Currency Translation		Balance as of December 31, 2023




Licenses (weighted average life of 14 years)	$	442,107	$	—	$	(10,000)	$	—	$	432,107
Tradenames	6,409		—		—		—		6,409
Developed technology (weighted average life of 12 years)	5,920,021		—		—		5,641		5,925,662

Total other intangibles (weighted average life of 12 years)	$	6,368,537	$	—	$	(10,000)	$	5,641	$	6,364,178

Accumulated amortization:	Balance as of December 31, 2022		Amortization		Other (1)		Effect of Currency Translation		Balance as of December 31, 2023

Licenses	$	(424,508)	$	(4,576)	$	10,000	$	—	$	(419,084)
Tradenames	(6,409)		—		—		—		(6,409)
Developed technology	(4,204,685)		(251,357)		—		(4,760)		(4,460,802)
Total other intangibles	$	(4,635,602)	$	(255,933)	$	10,000	$	(4,760)	$	(4,886,295)
Net other intangibles	$	1,732,935							$	1,477,883

__________

(1)Other adjustments relate to the removal of certain fully amortized intangible assets.

Amortization expense for the years ended December 31, 2023, 2022 and 2021 totaled $255.9 million, $337.3 million and $372.9 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, 2023 is as follows (in thousands):


2024	$	246,050
2025	$	232,930
2026	$	209,784
2027	$	134,322
2028	$	112,476

Impairments

Goodwill and, if applicable, indefinite-lived intangible assets are tested for impairment annually, as of October 1, and when events or changes in circumstances indicate that the asset might be impaired.

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 reflect our estimates of future cash flows and other factors including estimates of: (i) future operating performance, including future sales, long-term growth rates, gross margins, operating expenses, discount rates and the probability of achieving the estimated cash flows, and (ii) future economic conditions. These assumptions are based on significant inputs and judgments not observable in the market, and thus represent Level 3 measurements within the fair value hierarchy. The discount rates used in the determination of fair value reflect our judgments regarding the risks and uncertainties inherent in the estimated future cash flows and may differ over time depending on the risk profile of the particular assets and other market factors. We believe the discount rates and other inputs and assumptions are consistent with those 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.

Annual Goodwill Impairment Tests

The Company performed its annual goodwill impairment tests as of October 1, 2023, 2022 and 2021. For the purposes of these annual tests, the Company had two reporting units with goodwill: Branded Pharmaceuticals and Sterile Injectables. The discount rates used for the Branded Pharmaceuticals reporting units in these annual tests were 14.5%, 15.0% and 14.5%, respectively, and the discount rates used for the Sterile Injectables reporting units in these annual tests were 14.5%, 19.5% and 11.0%, respectively.

As a result of our annual tests performed as of October 1, 2021, the Company determined that the carrying amount of the Sterile Injectables reporting unit exceeded its estimated fair value; therefore, the Company recorded a pre-tax non-cash goodwill impairment charge of $363.0 million during the fourth quarter of 2021. The Sterile Injectables impairment was primarily a result of changes in assumptions related to competition, including assumptions related to competing generic alternatives to VASOSTRICT®, which were subsequently introduced beginning with Eagle’s at-risk launch in January 2022.

We did not record any other goodwill impairment charges as a result of our October 1, 2023, 2022 and 2021 annual impairment tests.

Second-Quarter 2022 Interim Goodwill Impairment Tests

Beginning in May 2022, our share price and the aggregate estimated fair value of our debt experienced significant declines. We believe these declines, which persisted through the end of the second quarter of 2022, were predominantly attributable to continuing and increasing investor and analyst uncertainty with respect to: (i) ongoing opioid and other litigation matters for which we had been unable to reach a broad-based resolution of outstanding claims and (ii) speculation surrounding the possibility of a bankruptcy filing. Further, rising inflation and interest rates unfavorably affected the cost of borrowing, which is one of several inputs used in the determination of the discount rates used in our discounted cash flow models. For example, the U.S. Federal Reserve raised its benchmark interest rate by 50 basis points in May 2022 and by an additional 75 basis points in June 2022. Taken together, we determined that these factors represented triggering events that required the performance of interim goodwill impairments tests for both our Sterile Injectables and Branded Pharmaceuticals reporting units as of June 30, 2022.

When performing these goodwill impairment tests, we estimated the fair values of our reporting units taking into consideration management’s continued commitment to Endo’s strategic plans and the corresponding projected cash flows, as well as the fact that management’s views on litigation risk had not materially changed since our annual goodwill impairment tests performed on October 1, 2021. However, when analyzing our aggregated estimated internal valuation of our reporting units as of June 30, 2022 compared to our market capitalization and the aggregate estimated fair value of our debt, we also considered the increased level of investor and analyst uncertainty described above, coupled with our belief that investors and analysts were unlikely to modify their projections or valuation models unless or until we could demonstrate significant progression on the resolution of outstanding litigation matters and/or demonstrate that the risks of potential future strategic alternatives, including the possibility of a future bankruptcy filing, were no longer applicable. After performing this analysis, we made certain adjustments to incorporate these factors into the valuations of our reporting units, primarily through adjustments to the discount rate resulting from an increase in the CSRP, and determined that: (i) the estimated fair value of our Sterile Injectables reporting unit was less than its carrying amount, resulting in a pre-tax non-cash goodwill impairment charge of $1,748.0 million, and (ii) while the estimated fair value declined, there was no goodwill impairment for our Branded Pharmaceuticals reporting unit, for which the estimated fair value exceeded the carrying amount by more than 10%. The discount rates used in the June 30, 2022 goodwill tests were 13.5% and 18.5% for the Branded Pharmaceuticals and Sterile Injectables reporting units, respectively.

Third-Quarter 2022 Interim Goodwill Impairment Tests

As further described in Note 2. Bankruptcy Proceedings, during the third quarter of 2022, in connection with the Sale, we received the Stalking Horse Bid, subject to higher or otherwise better bids from other parties. The value of the bid, as well as our market capitalization and the aggregate estimated fair value of our debt, was considered when determining whether it was more likely than not that the carrying amounts of one or more of our reporting units exceeded their respective fair values. Further, rising inflation and interest rates unfavorably affected the cost of borrowing, which is one of several inputs used in the determination of the discount rates used in our discounted cash flow models. For example, the U.S. Federal Reserve raised its benchmark interest rate by 75 basis points in July 2022 and by an additional 75 basis points in September 2022. Taken together, we determined that these factors represented triggering events that required the performance of interim goodwill impairments tests for both our Sterile Injectables and Branded Pharmaceuticals reporting units as of September 30, 2022.

When performing these goodwill impairment tests, we estimated the fair values of our reporting units taking into consideration management’s continued commitment to Endo’s strategic plans and the corresponding projected cash flows. However, when analyzing our aggregated estimated internal valuation of our reporting units as of September 30, 2022 compared to our market capitalization and the aggregate estimated fair value of our debt, as well as the par value and fair value of the Stalking Horse Bid, we made adjustments to reflect certain risks and uncertainties, including those related to the Chapter 11 Cases and the anticipated Sale, into the valuations of our reporting units, primarily through adjustments to the discount rate resulting from an increase in the CSRP, and determined that: (i) the estimated fair value of our Sterile Injectables reporting unit was less than its carrying amount, resulting in a pre-tax non-cash goodwill impairment charge of $97.0 million, and (ii) the estimated fair value of our Branded Pharmaceuticals reporting unit exceeded the carrying amount by more than 10%. The discount rates used in the September 30, 2022 goodwill tests were 15.0% and 19.5% for the Branded Pharmaceuticals and Sterile Injectables reporting units, respectively.

Fourth-Quarter 2022 Interim Goodwill Impairment Test

Beginning in late fourth-quarter 2022 and concluding in February 2023, the Company completed its annual enterprise-wide long-term strategic planning process, which resulted in updates to its projected future cash flows. Among other items, these updates primarily reflected the anticipated impacts on the Company’s projected future cash flows resulting from: (i) the discontinuation of QWO®; (ii) the disruption to XIAFLEX® revenues that occurred in the second half of 2022; (iii) routine updates to our assumptions regarding anticipated competitive events for currently marketed products, as well as probabilities of success, launch timing and the anticipated competitive landscape surrounding new product launches, including with respect to TLC599 and certain product candidates in our Sterile Injectables reporting unit pipeline; (iv) expected changes in the Company’s future manufacturing expense profile, including delays related to construction, FDA inspections and product transfers to our Sterile Injectables facility in Indore, India; and (v) changes in the Company’s future operating expense profile. Due to the extent of the changes to the projected future cash flows, coupled with the fact that we had recorded impairments for our Sterile Injectables reporting unit during the second and third quarters of 2022, we concluded that it was more likely than not that the carrying amount of our Sterile Injectables reporting unit may exceed its fair value. As a result, an interim impairment test was performed as of December 31, 2022. The updates to the projected future cash flows did not result in an interim goodwill impairment test for our Branded Pharmaceuticals reporting unit due to the significant headroom in this reporting unit.

When performing the goodwill impairment test, we estimated the fair value of our Sterile Injectables reporting unit taking into consideration management’s updated forecasts of projected cash flows, as further discussed above. The updated forecast of projected future cash flows was reduced in comparison to the prior 2022 tests. However, in reducing the cash flows, we believe the level of risk and uncertainty of the cash flows also decreased resulting in a corresponding decrease in the CSRP and, in turn, the discount rate used in the determination of fair value of our Sterile Injectables reporting unit. The discount rate used in the December 31, 2022 goodwill impairment test was 14.5%. We believe this discount rate and the other inputs and assumptions used to estimate fair value were consistent with those that a market participant would have used in light of the degree of risk associated with the most recent estimated future cash flows. Consistent with the goodwill impairment tests performed earlier in 2022, we compared our aggregated estimated internal valuation of our reporting units as of December 31, 2022 to our market capitalization and the aggregate estimated fair value of our debt, as well as the par value and fair value of the Stalking Horse Bid. As a result of the December 31, 2022 test, we determined that there was no impairment of goodwill.

Other Intangible Asset Impairments

With respect to other intangible assets, we did not record an asset impairment charge during the year ended December 31, 2023. We recorded asset impairment charges of $288.7 million and $7.8 million during the years ended December 31, 2022 and 2021, respectively. These pre-tax non-cash asset impairment charges related primarily to certain developed technology intangible assets that were tested for impairment following changes in market conditions and certain other factors impacting recoverability. The amount recorded in 2022 included charges related to the 2022 Restructuring Initiative, as further discussed in Note 5. Restructuring.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

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.

U.S. Government Cooperative Agreement

In November 2021, we entered into a cooperative agreement with the U.S. Department of Defense (DoD), pursuant to an interagency agreement with the U.S. Department of Health and Human Service (HHS) whereby the DoD provided contracting support to HHS during the COVID-19 pandemic. The cooperative agreement with the DoD concluded in the third quarter of 2023 and a new

cooperative agreement with HHS, containing substantially the same terms, was simultaneously executed. The purpose of the original cooperative agreement with the DoD, and subsequently the cooperative agreement with HHS, is to expand our Sterile Injectables segment’s fill-finish manufacturing production capacity and capabilities at our Rochester, Michigan plant to support the U.S. government’s national defense efforts regarding production of critical medicines advancing pandemic preparation (the U.S. Government Cooperative Agreement). The U.S. Government Cooperative Agreement is part of the U.S. government’s efforts, authorized under the Defense Production Act, to address potential vulnerabilities in critical product supply chains and strengthen the advancement of domestic manufacturing capabilities critical to the national defense, including essential medicines production.

Under the terms of the U.S. Government Cooperative Agreement, our Rochester facility will establish new sterile fill-finish manufacturing assets capable of processing liquid or lyophilized products requiring Biosafety Level (BSL) 2 containment in order to establish and sustain BSL 2 sterile fill-finish production capacity to create and maintain industrial base capabilities for the national defense. Certain qualifying costs are eligible for reimbursement by the U.S. government under a cost share arrangement, generally within 30 days of us submitting requests for reimbursement. The Company must generally incur the costs before subsequently seeking reimbursement of qualifying costs from the U.S. government. Amounts reimbursed are subject to audit and may be recaptured by the U.S. government in certain circumstances.

Construction is currently in progress. During the years ended December 31, 2023 and December 31, 2022, we incurred costs of approximately $52.9 million and $39.0 million, respectively, associated with the U.S. Government Cooperative Agreement. The following table summarizes certain information about the activity under the U.S. Government Cooperative Agreement at December 31, 2023 and December 31, 2022 (dollars in thousands):


	Year Ended December 31,
	2023		2022
Cumulative grant proceeds received to reimburse asset construction	$	58,032	$	18,635
Capex reimbursement receivable, included in Accounts receivable, net	5,514		7,856
Cumulative amounts applied against assets placed in service (1)	(18,922)		—
Total deferred grant income (2)	$	44,624	$	26,491

Assets under construction, gross	$	58,359	$	34,950
Assets placed in service, gross	24,898		—
Endo's portion of costs included in Property, plant and equipment, net	(19,711)		(8,459)
Cumulative amounts applied against assets placed in service (1)	(18,922)		—
Total deferred grant income (2)	$	44,624	$	26,491

__________

(1)During 2023, a portion of the facility constructed under the U.S. Government Cooperative Agreement was placed into service. Consistent with our policy election, discussed in Note 3. Summary of Significant Accounting Policies, we have deducted the corresponding grant reimbursement from Property, plant and equipment, net when the asset was placed in service.

(2)At December 31, 2023 and 2022, this amount, representing the reimbursable portion of costs included in assets under construction is included in Other liabilities in our Consolidated Balance Sheets.

Approximately $1.3 million and $1.0 million has been charged to expense, including depreciation for assets placed into service, during the years ended December 31, 2023 and 2022, respectively, with the majority of such expense included within Selling, general and administrative expenses and Cost of revenues in our Consolidated Statements of Operations. During the years ended December 31, 2023 and 2022, these amounts are net of approximately $4.1 million and $3.1 million, respectively, representing the reimbursable portion of costs incurred.

Amounts included in our Consolidated Financial Statements as of and for the year ended December 31, 2021 were not material.

We estimate that approximately three-quarters of our expected capital expenditures related to this agreement, as well as the corresponding reimbursements from the U.S. government, have occurred through December 31, 2023. We anticipate that facility readiness will occur in 2025, but there can be no assurance this will occur.

The new sterile fill-finish manufacturing assets will be available to support our future commercial operations, subject to the U.S. government’s conditional priority access and certain preferred pricing obligations under the U.S. Government Cooperative Agreement. The U.S. government will have conditional priority access to the facility for an initial period of ten years from the completion of the expansion project, which could be extended in the future after good faith negotiation and on commercially reasonable terms and conditions. Specifically, the U.S. government (or a third-party U.S. government supporting entity) will have priority access to utilize the new sterile fill-finish manufacturing assets for the production of a medical countermeasure if a determination is made in writing by the Secretary of HHS that the priority access is needed to respond to a disease, health condition or other threat to the public health that causes a public health emergency or a credible risk of such an emergency. The U.S. Government Cooperative Agreement also contemplates the establishment of separate supply agreements to be negotiated in good faith on mutually-acceptable commercially reasonable terms. Refer to Note 3. Summary of Significant Accounting Policies for additional information about our accounting for the U.S. Government Cooperative Agreement.

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. An adverse outcome in certain proceedings described herein could have a material adverse effect on our business, financial condition, results of operations and cash flows. We are also 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.

As further discussed in Note 2. Bankruptcy Proceedings, on the Petition Date, certain of the Debtors filed voluntary petitions for relief under the Bankruptcy Code. Certain additional Debtors filed voluntary petitions for relief under the Bankruptcy Code on May 25, 2023 and May 31, 2023. Under the Bankruptcy Code, third-party actions to collect pre-petition indebtedness owed by the Debtors, as well as most litigation pending against the Debtors as of the Petition Date, are generally subject to an automatic stay. However, under the Bankruptcy Code, certain legal proceedings, such as those involving the assertion of a governmental entity’s police or regulatory powers, may not be subject to the automatic stay and may continue unless otherwise ordered by the Bankruptcy Court. As a result, some proceedings may continue (or certain parties may attempt to argue that such proceedings should continue) notwithstanding the automatic stay. Where no stay is in place or expected, and in the event the stays in place were to be lifted, we intend to vigorously prosecute or defend our position as appropriate. We cannot predict the outcome of any proceeding, and there can be no assurance that we will be successful or obtain any requested relief.

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. Notwithstanding the foregoing, 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 we expect or that coverage will otherwise be available. Even where claims are submitted to insurance carriers for defense and indemnity, there can be no assurance that the claims will be covered by insurance or that the indemnitors or insurers will remain financially viable or will not challenge our right to reimbursement in whole or in part. 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.

We may not have and may be unable to obtain or maintain insurance on acceptable terms or with adequate coverage against potential liabilities or other losses, including costs, judgments, settlements and other liabilities incurred in connection with current or future legal proceedings, regardless of the success or failure of the claim. For example, we do not have insurance sufficient to satisfy all of the opioid claims that have been made against us. We also generally no longer have product liability insurance to cover claims in connection with the mesh-related litigation described herein. Additionally, we may be limited by the surviving insurance policies of acquired entities, which may not be adequate to cover potential liabilities or other losses. The failure to generate sufficient cash flow or to obtain other financing could affect our ability to pay amounts due under those liabilities not covered by insurance. Additionally, the nature of our business, the legal proceedings to which we are exposed and any losses we suffer may increase the cost of insurance, which could impact our decisions regarding our insurance programs. Finally, as set forth in the stipulation filed with the Bankruptcy Court on March 24, 2023 (see Note 2. Bankruptcy Proceedings), our ability to access certain insurance proceeds may be impacted by the resolution reached with the UCC.

As of December 31, 2023, our accrual for loss contingencies totaled $2,431.5 million, the most significant components of which relate to: (i) various opioid-related matters as further described herein and (ii) 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. As of December 31, 2023, our entire accrual for loss contingencies is classified as Liabilities subject to compromise in the Consolidated Balance Sheets and recorded at the expected allowed claim amount, even if they may ultimately be settled for different amounts. As a result of the automatic stay under the Bankruptcy Code and the uncertain treatment of these liabilities pursuant to a chapter 11 plan or otherwise, the timing and amount of payment, if any, related to the amounts accrued for loss contingencies is uncertain.

As part of the Chapter 11 Cases, persons and entities believing that they have claims or causes of action against the Debtors, including litigants, may file proofs of claim evidencing such claims. On April 3, 2023, the Bankruptcy Court entered the Bar Date Order, as subsequently amended on June 23, 2023 and July 14, 2023, setting July 7, 2023 as the general bar date (deadline) for persons and non-governmental entities to file proofs of claim against the Debtors. The Bankruptcy Court also set May 31, 2023 as the bar date for governmental entities to file claims other than certain claims relating to opioids against the Debtors. Certain claims, including most governmental claims relating to opioids, are subject to separate bar date procedures as set forth in more detail in the Bar Date Order.

At the Debtors’ request, the Bankruptcy Court has appointed the FCR in the Chapter 11 Cases. As further described in the applicable Bankruptcy Court filings, the FCR represents the rights of individuals who may in the future assert one or more personal injury claims against the Debtors or a successor of the Debtors’ businesses relating to the Debtors’ opioid or transvaginal surgical mesh products, but who could not assert such claims in the Chapter 11 Cases because, among other reasons, such individuals were unaware of the alleged injury, had a latent manifestation of the alleged injury or were otherwise unable to assert or incapable of asserting claims based on the alleged injury. Although the FCR was initially appointed to represent the rights of individuals who may in the future assert one or more personal injury claims against the Debtors or a successor of the Debtors’ businesses relating to the Debtors’ ranitidine products, in August 2023 the Bankruptcy Court entered an order terminating the FCR’s appointment with respect to claims relating to the Debtors’ ranitidine products.

Vaginal Mesh Matters

Since 2008, we and certain of our subsidiaries, including American Medical Systems Holdings, Inc. (AMS) (which subsequently converted to Astora Women’s Health Holdings, LLC and merged into Astora Women’s Health LLC (Astora)), have been named as defendants in multiple lawsuits in various state and federal courts in the U.S., and in the United Kingdom, 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.

At various times from June 2013 through the Petition Date, the Company and/or certain of its subsidiaries entered into various Master Settlement Agreements (MSAs) and other agreements intended to resolve approximately 71,000 filed and unfiled U.S. mesh claims. These MSAs and other agreements 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 were subject to a process that included guidelines and procedures for administering the settlements and the release of funds. In certain cases, the MSAs provided for the creation of QSFs into which settlement funds were deposited, established participation requirements and allowed for a reduction of the total settlement payment in the event participation thresholds were not met. In certain circumstances, participation requirements or other conditions for payment were not satisfied prior to the Petition Date. Funds deposited in QSFs are considered restricted cash and/or restricted cash equivalents. Distribution of funds to any individual claimant was 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 was required to 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 applied to the settlement funds, amounts allocated to individual claimants and other terms of the agreements.

The following table presents the changes in the mesh-related QSFs and liability accrual balances during the year ended December 31, 2023 (in thousands):


	Mesh Qualified Settlement Funds		Mesh Liability Accrual (1)
Balance as of December 31, 2022	$	50,339	$	222,972
Additional charges	—		495

Cash distributions to settle disputes from Qualified Settlement Funds	(2,279)		(2,279)

Other (2)	1,404		1,404
Balance as of December 31, 2023	$	49,464	$	222,592

__________

(1)As of December 31, 2023 and December 31, 2022, the entire accrual is classified as Liabilities subject to compromise in the Consolidated Balance Sheets.

(2)Amounts deposited in the QSFs earn interest from time to time that is reflected in the table above as an increase to the QSF and Mesh Liability Accrual balances. Subject to any restrictions on making payments as a result of the Chapter 11 Cases, such interest is generally used to pay administrative costs of the funds and 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, 2023, the Company has made total cumulative mesh liability payments of approximately $3.6 billion, $49.5 million of which remains in the QSFs as of December 31, 2023. In light of the filing of petitions for relief under the Bankruptcy Code, we do not expect to make new payments under previously executed mesh settlement agreements within the next 12 months. 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 June 2023, the Company filed a motion in the Bankruptcy Court seeking: (i) confirmation that the automatic stay does not apply to certain distributions to mesh claimants under the QSFs and (ii) authorization to request the return of the QSF funds to relevant parties (the QSF Motion). In July 2023, the Bankruptcy Court entered an order confirming that the automatic stay does not apply to certain distributions from QSFs for mesh claimants for whom the Company does not have a reversionary interest, as scheduled in the QSF Motion, and authorizing the Company to request the return of the QSF funds for the mesh claimants who did not object to the QSF Motion. Objecting mesh claimants have until March 14, 2024 to file a formal objection to the QSF Motion, unless otherwise agreed by the Company and such claimants and approved by the Bankruptcy Court. Any such objections are currently scheduled to be heard by the Bankruptcy Court on March 21, 2024.

As of the Petition Date, mesh personal injury claims against AMS and Astora, in the U.S., became subject to the automatic stay applicable under the Bankruptcy Code, and stays of mesh litigation have been obtained in the United Kingdom and Australia. In certain other countries where no stay is in place, and in the event the stays in place were to be lifted, we will continue to vigorously defend any unresolved claims and to explore other options as appropriate in our best interests.

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.

The resolution reached with the UCC contemplates the creation and funding of a trust for the benefit of certain unsecured creditors and sub-trusts established thereunder, one of which shall be established for the benefit of certain mesh claimants. Additionally, on April 13, 2023, the Purchaser and the FCR filed a resolution with the Bankruptcy Court that contemplates that the Future PI Trust will allocate an aggregate amount of $0.5 million to eligible future mesh claimants in exchange for certain releases to be provided to (among others) the Purchaser and Endo International plc, its subsidiaries and affiliated entities and persons. As previously noted, the Plan is subject to the approval of the Bankruptcy Court and therefore there is no guarantee that the proposed sale transaction to the Purchaser contemplated by the Plan, or the establishment and funding of the trusts contemplated under the Plan, will actually occur. Additionally, similar matters to the foregoing 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 allowed claim amount associated with all mesh-related matters as of the date of this report, it is reasonably possible 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 and EVU, as well as various other manufacturers, distributors, pharmacies and/or others, asserting claims relating to the defendants’ alleged sales, marketing and/or distribution practices with respect to prescription opioid medications, including certain of our products. As of February 28, 2024, pending cases in the U.S. of which we were aware include, but are not limited to, approximately 15 cases filed by or on behalf of states; approximately 2,570 cases filed by counties, cities, Native American tribes and/or other government-related persons or entities; approximately 310 cases filed by hospitals, health systems, unions, health and welfare funds or other third-party payers and approximately 220 cases filed by individuals, including but not limited to legal guardians of children born with neonatal abstinence syndrome. Certain of the U.S. cases are 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 in Alberta on behalf of a proposed class of all local or municipal governments in Canada; an action filed in Saskatchewan on behalf of a proposed class of all First Nations communities and local or municipal governments in Canada; and three additional putative class actions, filed in British Columbia, Ontario and Quebec, 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 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. The damages sought exceed our applicable insurance.

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; however, in April 2022, the Judicial Panel on Multidistrict Litigation issued an order suggesting that, based on the progress of the MDL, it would no longer transfer new cases filed in or removed to federal court to the MDL. Other cases are pending in various federal or state courts. Following the Petition Date, litigation activity against the Company and its subsidiaries ceased in nearly all pending cases as a result of the automatic stay and a November 2022 preliminary injunction order issued by the Bankruptcy Court. In August 2023, the Bankruptcy Court extended the preliminary injunction by a further 180 days. A similar cessation of litigation activity is in place in Canada.

In June 2020, the New York State Department of Financial Services (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. In July 2021, DFS filed an amended statement of charges. The amended 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. DFS seeks civil penalties for each allegedly fraudulent prescription as well as injunctive relief. In July 2021, EPI, EHSI, PPI and PPCI, among others, filed a petition in New York state court seeking to prohibit DFS from proceeding with its administrative enforcement action. In December 2021, DFS filed a motion to dismiss that petition, which the court granted in June 2022. The Company’s subsidiaries, among others, appealed that ruling in July 2022. Both the appeal and the DFS administrative matter were stayed following commencement of the Chapter 11 Cases.

Between 2019 and the Petition Date, the Company and/or certain of its subsidiaries executed a number of settlement agreements to resolve governmental opioid claims brought by certain states, counties, cities and/or other governmental entities. Certain related developments include but are not limited to the following:

•In September 2019, EPI, EHSI, PPI and PPCI executed a settlement agreement with two Ohio counties providing for payments totaling $10 million and up to $1 million of VASOSTRICT® and/or ADRENALIN®. The settlement amount was paid during the third quarter of 2019.

•In January 2020, EPI and PPI executed a settlement agreement with the state of Oklahoma providing for a payment of $8.75 million. The settlement amount was paid during the first quarter of 2020.

•In August 2021, EPI, EHSI, nine counties in eastern Tennessee, eighteen municipalities within those counties and a minor individual executed a settlement agreement providing for a payment of $35 million. The settlement amount was paid during the third quarter of 2021.

•In September 2021, Endo International plc, EPI, EHSI, PPI and PPCI executed a settlement agreement with the state of New York and two of its counties providing for a payment of $50 million. The settlement amount was paid during the third quarter of 2021.

•In October 2021, EPI and EHSI executed a settlement agreement with the Alabama Attorney General’s office intended to resolve opioid-related cases and claims of the state and other Alabama governmental persons and entities in exchange for a total payment of $25 million, subject to certain participation thresholds. The settlement amount was not paid as of the Petition Date and, as a result of the Chapter 11 Cases, it is not known when or if such amount will be paid.

•In December 2021, Endo International plc, EPI, EHSI, PPI and PPCI executed a settlement agreement with the Texas Attorney General’s office and four Texas counties intended to resolve opioid-related cases and claims of the state and other Texas governmental persons and entities in exchange for a total payment of $63 million, subject to certain participation thresholds. The settlement amount was deposited into a QSF during the first quarter of 2022.

•In January 2022, EPI and EHSI executed a settlement agreement with the Florida Attorney General’s office intended to resolve opioid-related cases and claims of the state and other Florida governmental persons and entities in exchange for a total payment of up to $65 million, subject to certain participation thresholds. The settlement amount was deposited into a QSF during the second quarter of 2022.

•In February 2022, EPI and EHSI executed a settlement agreement with the Louisiana Attorney General’s office intended to resolve opioid-related cases and claims of the state and other Louisiana governmental persons and entities in exchange for a total payment of $7.5 million, subject to certain participation thresholds. The settlement amount was not paid as of the Petition Date and, as a result of the Chapter 11 Cases, it is not known when or if such amount will be paid.

•In March 2022, EPI, EHSI and PPI executed a settlement agreement with the West Virginia Attorney General’s office intended to resolve opioid-related cases and claims of the state and other West Virginia governmental persons and entities in exchange for a total payment of $26 million, subject to certain participation thresholds. The settlement amount was not paid as of the Petition Date and, as a result of the Chapter 11 Cases, it is not known when or if such amount will be paid.

•In June 2022, EPI and EHSI executed a settlement agreement with the Arkansas Attorney General’s office and certain Arkansas local governments intended to resolve opioid-related cases and claims of the state and other Arkansas governmental persons and entities in exchange for a total payment of $9.75 million, subject to certain participation thresholds. With the exception of certain amounts held back pursuant to an MDL common benefit fund order, the settlement amount was paid during the third quarter of 2022.

•In July 2022, EPI and EHSI executed a settlement agreement with the Mississippi Attorney General’s office intended to resolve opioid-related cases and claims of the state and other Mississippi governmental persons and entities in exchange for a total payment of $9 million, subject to certain participation thresholds. The settlement amount was not paid as of the Petition Date and, as a result of the Chapter 11 Cases, it is not known when or if such amount will be paid.

•In July 2022, EPI, EHSI, PPI and PPCI executed a settlement agreement with the City and County of San Francisco providing for an initial payment of $5 million and subsequent payments of $500,000 a year over ten years. The settlement amount was not paid as of the Petition Date and, as a result of the Chapter 11 Cases, it is not known when or if such amount will be paid.

While the specific terms of the agreements vary, each agreement was solely by way of compromise and settlement and was not in any way an admission of wrongdoing, fault or liability of any kind by us or any of our subsidiaries. Certain settlement agreements provided for the creation of QSFs, the repayment of some or all of the settlement amount under certain conditions and/or additional payments in the event certain conditions were met. Depending on the terms of the respective agreements, funds deposited in QSFs have been and may continue to be considered restricted cash and/or restricted cash equivalents for a period of time subsequent to the initial funding. Distribution of funds from the QSFs is conditioned upon certain criteria that vary by agreement.

Certain of the settlement agreements described above provide for injunctive relief. The RSA also provides for certain voluntary injunctive terms that bind the Debtors during the course of the bankruptcy proceedings and would apply to any purchaser of our opioid business in conjunction with the bankruptcy proceedings. The Bankruptcy Court also approved certain injunctive terms in connection with its November 2022 preliminary injunction against the continued litigation of opioid actions brought by public plaintiffs.

The Plan provides for the establishment by the Debtors of opioid trusts, and other forms of funding, for the benefit of certain public, tribal and private present and future opioid claimants in exchange for certain releases to be provided to (among others) the Purchaser and Endo International plc, its subsidiaries and affiliated entities and persons. In particular, under the RSA (as amended), the opioid trusts would be funded over a period of ten years (subject to prepayment mechanics), with up to a total of approximately $613 million to be distributed to eligible claimants, and the opioid school district recovery trust would be funded, over a period of two years, with up to $3 million to be distributed to public school districts that elect to participate in such initiative. Under the proposed public claimant opioid trust, states which previously entered into settlement agreements and received payments from us may elect to participate in the trust. In doing so, those states would agree to return the amounts previously received under the prior settlement agreement(s), net of the amounts allocated to them by the trust, and would receive in return a release from any claim for the return of settlement funds under the applicable section of the Bankruptcy Code. As previously noted, the Plan is subject to the approval of the Bankruptcy Court and therefore there is no guarantee that the proposed transactions contemplated by the Plan to the Purchaser, and the funding of the opioid trusts and the opioid school district recovery trust (including the trusts for certain future opioid claimants), will actually occur.

Although the proposed opioid trusts and opioid school district recovery trust were initially contemplated to be funded by the Purchaser in connection with the standalone Sale, and not by the Company or any of its subsidiaries, we previously concluded that these proposed funding amounts, which are now reflected in the Plan, represent the Company’s best estimate of the allowed claims related to the contingencies associated with various opioid claims against the Company and its subsidiaries. As such, during the third quarter of 2022, we recorded charges of approximately $419 million to adjust our aggregate opioid liability accrual to approximately $550 million based on the terms set forth in the public opioid trust term sheet attached to the original RSA. In March 2023, the Ad Hoc First Lien Group (and Purchaser) reached certain resolutions in principle with both the UCC and OCC appointed in the Chapter 11 Cases and certain ad hoc groups of debtholders. These resolutions, documented in the stipulation filed with the Bankruptcy Court on March 24, 2023 (and discussed in additional detail under “Resolutions in the Chapter 11 Cases” in Note 2. Bankruptcy Proceedings), are supported by the Debtors. The resolutions include, among other things, a $34 million increase to the funding amount for the proposed voluntary private opioid trust. In addition, the Ad Hoc First Lien Group agreed to a $15 million increase to the funding amount for the proposed voluntary public opioid trust. The agreement to increase the funding amount for the proposed voluntary private opioid trust was announced prior to the filing of the Annual Report on Form 10-K for the year ended December 31, 2022; accordingly, we recorded an additional charge of $34 million in the fourth quarter of 2022 to increase our aggregate opioid liability accrual to approximately $584 million. The agreement to increase the funding amount for the proposed voluntary public opioid trust was not announced until after the filing of the Annual Report on Form 10-K for the year ended December 31, 2022. Therefore, we recorded an additional charge of $15 million in the first quarter of 2023 to increase our aggregate opioid liability accrual to approximately $599 million. On July 13, 2023, the Purchaser and the FCR filed with the Bankruptcy Court both a term sheet for a proposed resolution among such parties (the FCR Term Sheet) and an amended term sheet for the proposed voluntary private opioid trust. The resolution with the FCR provides that, in exchange for certain releases to be provided to (among others) the Purchaser and the Company and its affiliates, the Purchaser will agree to fund a trust of $11.5 million to be established for the benefit of certain future opioid claimants. The amended term sheet for the proposed voluntary private opioid trust provides for a $0.5 million increase to the funding amount for the proposed voluntary private opioid trust. Accordingly, we recorded an additional charge of $12 million in the second quarter of 2023 to increase our aggregate opioid liability to approximately $611 million. In August 2023, the Purchaser and the Public School District Creditors filed with the Bankruptcy Court a term sheet for a proposed resolution among such parties. In exchange for certain releases to be provided to (among others) the Purchaser and the Company and its affiliates, the Purchaser will agree to fund an opioid school district recovery trust up to $3 million for the purpose of funding opioid abuse/misuse abatement or remediation programs to be implemented by the Public School District Creditors. In September 2023, the Purchaser and the Canadian Provinces filed with the Bankruptcy Court a term sheet for a proposed resolution among such parties. In exchange for certain releases to be provided to (among others) the Purchaser and the Company and its affiliates, the Purchaser will agree to fund a voluntary trust of approximately $7 million to be established for the benefit of the Canadian Provinces. Accordingly, we recorded an additional charge of approximately $10 million in the third quarter of 2023 to increase our aggregate opioid liability to approximately $621 million. In December 2023, in connection with the Plan, state opioid claimants agreed to decrease the gross amount of the initial public opioid trust settlement by approximately $5 million in exchange for certain prepayment rights. In February 2024, the resolutions reached with the DOJ with respect to claims filed in the Chapter 11 Cases by the U.S. Government provides that the U.S. Government will have in connection with its opioid-related criminal and civil investigations of certain of the Debtors: (i) an allowed, general unsecured claim in the amount of $1,086 million in connection with a criminal fine arising from a plea agreement entered into by EHSI and; (ii) an allowed, general unsecured claim in the amount of approximately $476 million in connection with a civil settlement agreement entered into by EHSI. Accordingly, we recorded an additional charge of approximately $1,557 million in the fourth quarter of 2023 to increase our aggregate opioid liability to approximately $2,178 million. These liabilities represent the Company’s best estimate of the allowed claims related to the contingencies associated with various opioid claims against the Company and its subsidiaries.

To the extent unresolved, and in the event stays in place were to be lifted, we will continue to vigorously defend the foregoing matters and to explore other options as appropriate in our best interests, which may include entering into settlement negotiations and settlements even in circumstances where we believe we have meritorious defenses. 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 the expected amount of the allowed claim 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 but not limited to the following:

•Various state attorneys general have served subpoenas and/or CIDs on EHSI and/or EPI. Some of these state attorneys general subsequently filed lawsuits against the Company and/or its subsidiaries and/or have indicated their support for the opioid trusts described above. To the extent any state attorney general investigations are continuing, we are cooperating with them.

•In January 2018, EPI received a federal grand jury subpoena from the U.S. District Court for the Southern District of Florida (S.D. Florida) seeking documents and information related to OPANA® ER, other oxymorphone products and marketing of opioid medications. S.D. Florida’s investigation is contemplated to be resolved in accordance with Endo’s resolution with the DOJ.

•In December 2020, the Company received a subpoena issued by the U.S. Attorney’s Office for the Western District of Virginia seeking documents related to McKinsey & Company. The Company received a related subpoena in May 2021, also issued by the U.S. Attorney’s Office for the Western District of Virginia. 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 the expected amount of the allowed claim may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

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 ranitidine medications can break down to form an alleged carcinogen known as N-Nitrosodimethylamine (NDMA). 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. Similar complaints against various defendants, in some instances including PPI, have also been filed in certain state courts, including but not limited to California, Illinois and Pennsylvania. Neither PPI nor its subsidiaries have manufactured or sold ranitidine since 2016.

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 other defendants with leave to amend certain claims. Certain plaintiffs, including a third-party payer pursuing class action claims, appealed the dismissal orders. PPI was dismissed from the third-party payer appeal in September 2022. In November 2022, the U.S. Court of Appeals for the Eleventh Circuit (Eleventh Circuit) affirmed the dismissal of the third-party payer complaint and dismissed the other appeals on procedural grounds.

In February 2021, various other plaintiffs filed an amended master personal injury complaint, a consolidated amended consumer economic loss class action complaint and a consolidated medical monitoring class action complaint. PPI was not named as a defendant in the consumer economic loss complaint or the medical monitoring complaint. In July 2021, the MDL court dismissed all claims in the master complaints as to PPI and other generic defendants with prejudice on federal preemption grounds. In November 2021, the MDL court issued a final judgment as to PPI and other generic defendants.

In December 2022, the MDL court granted summary judgment in favor of certain remaining defendants with respect to five “designated cancers” (bladder, esophageal, gastric, liver and pancreatic), holding that plaintiffs had failed to provide sufficient evidence of causation.

In May 2023, the MDL court issued orders extending its December 2022 summary judgment ruling to all MDL defendants. In July 2023, the MDL court entered an order dismissing plaintiffs’ non-designated cancer claims for failure to produce expert reports. To facilitate entry of these final judgments notwithstanding the automatic stay applicable to PPI, the MDL court entered orders severing PPI in thousands of pending cases on September 26, 2023.

At various times, certain MDL plaintiffs appealed the MDL court’s various orders and judgments. These appeals generally remain pending with briefing expected in 2024, although PPI has been dismissed from certain of them and the Eleventh Circuit has stayed any appeals as to PPI due to the PPI bankruptcy.

In July 2022, claimants alleging non-designated cancer claims were “exited” from the MDL census registry. Some of these claimants subsequently filed lawsuits in various courts. Following the MDL court’s December 2022 summary judgment order, the MDL court closed the census registry, and the registry-related tolling of the statute of limitations for registry participants remaining in the census registry at the time of its closure expired in April 2023.

As of the Petition Date, the claims against PPI (including new complaints and related appeals) became subject to the automatic stay; PPI was subsequently voluntarily dismissed from several pending matters, including the appeal from the MDL court’s dismissal of the third-party payer class action complaint.

In the event the stays in place were to be lifted, we will continue to vigorously defend the foregoing matters and to explore other options as appropriate in our best interests.

The resolution reached with the UCC contemplates the creation and funding of a trust for the benefit of certain unsecured creditors and sub-trusts established thereunder, one of which shall be established for the benefit of certain ranitidine claimants. As previously noted, the Plan is subject to the approval of the Bankruptcy Court and therefore there is no guarantee that the proposed transactions contemplated by the Plan, and the funding of the voluntary ranitidine claims-related sub-trust by the Purchaser, will actually occur. Additionally, similar matters to the foregoing 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 the expected amount of the allowed claim may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

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, DAVA International, 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; three cases commenced by writ of summons in Pennsylvania state court are in deferred status. 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 generally seek damages, treble damages, civil penalties, disgorgement, declaratory and injunctive relief, costs and attorneys’ fees. Some claims are based on alleged product-specific conspiracies; other claims allege broader, multiple-product conspiracies. Under their 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 in whole or in part, and discovery is ongoing.

As of the Petition Date, the claims against the Company and its subsidiaries in the U.S. became subject to the automatic stay. A similar cessation of litigation activity is in place in Canada. In the event the stays in place were to be lifted, 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 the expected amount of the allowed claim 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 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 an FCA 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.

The resolution reached with the UCC contemplates the creation and funding of a trust for the benefit of certain unsecured creditors and sub-trusts established thereunder, one of which shall be established for the benefit of certain holders of generic drug pricing claims. As previously noted, the Plan is subject to the approval of the Bankruptcy Court and therefore there is no guarantee that the proposed transactions contemplated by the Plan, and the funding of the voluntary generic drug pricing claims-related sub-trust by the Purchaser, will actually occur. Additionally, similar investigations to the foregoing 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 additional losses that could be incurred. Adjustments to the expected amount of the allowed claim 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 Antitrust Matters

Beginning in June 2014, multiple alleged purchasers of OPANA® ER sued our subsidiaries EHSI and EPI; Penwest Pharmaceuticals Co. (Penwest), which our subsidiary EPI had acquired; and Impax Laboratories, LLC (formerly Impax Laboratories, Inc. and referred to herein as Impax), alleging among other things violations of antitrust law arising out of an agreement between EPI and Impax to settle certain patent infringement litigation. Some cases were filed on behalf of putative classes of direct and indirect purchasers; others were non-class action suits. The cases were consolidated and/or coordinated in a federal MDL pending in the U.S. District Court for the Northern District of Illinois. The various complaints asserted claims under Sections 1 and 2 of the Sherman Act, state antitrust and consumer protection statutes and/or state common law. Plaintiffs generally sought damages, treble damages, disgorgement of profits, restitution, injunctive relief and attorneys’ fees. In June 2021, the court certified a direct purchaser class and an end-payer class; in August 2021, following an appeal, the district court amended its class certification order to certify a narrower end-payer class. Trial on all plaintiffs’ claims began in June 2022. In July 2022, the jury returned a verdict in favor of EHSI, EPI and Penwest (Impax settled during trial). Later that month, plaintiffs filed a motion for judgment as a matter of law or in the alternative for a new trial. As of the Petition Date, the matter became subject to the automatic stay.

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. Between November 2019 and April 2021, PPI and PPCI entered into settlement agreements with all of the plaintiffs remaining in the MDL. The settlement agreements were solely by way of compromise and settlement and were not in any way an admission of wrongdoing, fault or liability of any kind. Separately, in August 2019, several alleged direct purchasers filed suit against PPI and other pharmaceutical companies 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. As of the Petition Date, the claims against PPI became subject to the automatic stay.

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; the retailer plaintiffs later did the same. PPI filed a partial motion to dismiss certain claims in September 2018; the court granted the motion in August 2019. In March 2022, the putative class plaintiffs filed motions for class certification. In May 2022, defendants filed motions for summary judgment. As of the Petition Date, the claims against PPI became subject to the automatic stay. In January 2023, certain direct purchaser plaintiffs dismissed their claims against PPI, EPI and us with prejudice and, in February 2023, certain indirect purchaser plaintiffs agreed to do the same. In July 2023, the court dismissed the remaining claims filed against PPI, EPI and us.

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 August 2020, the litigation was transferred to the U.S. District Court for the District of Delaware. In July 2022, the court dismissed certain claims asserted under state law but otherwise denied defendants’ motions to dismiss. As of the Petition Date, the claims against PPI became subject to the automatic stay.

Beginning in June 2020, multiple complaints were filed against Jazz and other pharmaceutical companies, including PPI, alleging violations of state and/or federal antitrust laws in connection with the settlement of certain patent litigation concerning generic versions of Xyrem® (sodium oxybate). Some cases were filed on behalf of putative classes of indirect purchasers; others are non-class action suits. The cases have generally been consolidated and/or coordinated for pretrial proceedings in a federal MDL pending in the U.S. District Court for the Northern District of California; Aetna Inc. (Aetna) filed a similar case in May 2022 in California state court. 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 April 2021, the defendants moved to dismiss the MDL complaints that had been filed as of that time. In August 2021, the MDL court issued an order dismissing certain aspects of the plaintiffs’ claims but otherwise denying the motions to dismiss. In July 2022, PPI, among others, filed a motion to quash the Aetna action for lack of personal jurisdiction; the defendants also filed a demurrer, motion to strike and motion to stay Aetna’s action. As of the Petition Date, the claims against PPI became subject to the automatic stay. In December 2022, the California state court overseeing the Aetna action granted the motion to quash for lack of personal jurisdiction and, in January 2023, Aetna filed an amended complaint that did not name PPI as a defendant.

In August 2021, a putative class action complaint was filed in the U.S. District Court for the Eastern District of Pennsylvania against Takeda Pharmaceuticals USA Inc., EPI, PPI and others, alleging violations of federal antitrust law in connection with the settlement of certain patent litigation related to generic versions of Colcrys® (colchicine). In particular, the complaint alleged, among other things, that a distribution agreement between Takeda Pharmaceuticals USA Inc. and PPI, with respect to an authorized generic, was in effect an output restriction conspiracy; the plaintiffs asserted claims under Section 1 and Section 2 of the Sherman Act and sought damages, treble damages and attorneys’ fees and costs. In November 2021, the plaintiffs dismissed all claims against EPI and in December 2021, the court dismissed the complaint for failure to state a claim. In January 2022, the plaintiffs filed an amended complaint. In February 2022, the defendants filed a motion to dismiss the amended complaint, which the court granted in part and denied in part in March 2022. As of the Petition Date, the claims against PPI became subject to the automatic stay. In September 2022, the plaintiffs voluntarily dismissed all claims against PPI with prejudice, and PPI agreed to provide certain limited discovery as a non-party. In March 2023, the court denied the plaintiffs’ motion for class certification. In April 2023, the court authorized the filing of an amended complaint adding certain additional plaintiffs and combining the litigation with the proceedings from which PPI was dismissed; the amended complaint named PPI as a defendant. In September 2023, the court entered an order dismissing the case.

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) constituted unfair competition in violation of Section 5(a) of the FTC Act. The complaint generally sought injunctive and equitable monetary relief. In April 2021, the defendants filed motions to dismiss, which the court granted in March 2022. The FTC filed a notice of appeal in May 2022. Briefing on the appeal has concluded and oral argument took place in May 2023. The dismissal was affirmed on appeal in September 2023.

To the extent unresolved, and in the event the stays in place were to be lifted, we will continue to vigorously defend the foregoing matters and to explore other options as appropriate in our best interests. The resolution reached with UCC contemplates the creation and funding of a trust for the benefit of certain unsecured creditors and sub-trusts established thereunder, one of which shall be established for the benefit of certain antitrust claimants. As previously noted, the Plan is subject to the approval of the Bankruptcy Court and therefore there is no guarantee that the proposed sale transaction to the Purchaser contemplated by the Plan, and the funding of the voluntary antitrust claims-related sub-trust by the Purchaser, will actually occur. Additionally, 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 the expected amount of the allowed claim 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 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 alleged 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 DFS’s administrative action against the Company, EPI, EHSI, PPI and PPCI. In September 2020, the court appointed Curtis Laakso lead plaintiff in the action. In November 2020, the plaintiffs filed an amended complaint that among other things added Matthew J. Maletta as a defendant. In January 2021, the defendants filed a motion to dismiss, which the court granted in August 2021. In November 2021, the plaintiffs filed a second amended complaint, which among other things added allegations about discovery issues in certain opioid-related lawsuits. In January 2022, the defendants moved to dismiss the second amended complaint. As of the Petition Date, the claims against the Company became subject to the automatic stay. In August 2022, the court granted the motion and dismissed the case with prejudice. Due to the automatic stay, the plaintiffs’ time to appeal the dismissal as to the Company is tolled. The automatic stay does not apply to the individual defendants, and the plaintiffs’ time to appeal the ruling as to those defendants has run.

Similar matters may be brought by others. We are unable to predict the outcome of any such matters or to estimate the possible range of any losses that could be incurred. Adjustments to the expected amount of the allowed claim may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

Miscellaneous Government Investigations

In March 2022, EPI received a CID from the Texas Attorney General’s office seeking documents and information related to hormone blocker products. This followed the Texas Attorney General’s December 2021 announcement of an investigation into whether EPI and AbbVie Inc. had advertised or promoted such products, including SUPPRELIN® LA and VANTAS®, for unapproved uses. We are cooperating with the investigation.

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

Patent Matters

In January 2023, PSP LLC, PPI and EPIC received a notice letter from Baxter Healthcare Corporation (Baxter) pursuant to 505(b)(3)(B)-(D) of the FFDCA of its New Drug Application (NDA) submitted under 21 U.S.C. §355(b)(2) seeking FDA approval for vasopressin injection products in 20 units/100 ml and 40 units/100 ml strengths. In March 2023, PSP LLC, PPI and EPIC filed a complaint against Baxter in the U.S. District Court for the District of Delaware asserting infringement of three patents. These patents are not listed in the Approved Drug Products with Therapeutic Equivalence Evaluations (Orange Book); therefore, the patent infringement suit does not trigger a 30-month stay on FDA approval of Baxter’s NDA. On October 4, 2023, PSP LLC, PPI and EPIC filed a motion for a preliminary injunction/temporary restraining order after the FDA approved Baxter’s NDA in late September 2023. The preliminary injunction hearing was held on October 27, 2023. On November 3, 2023, the magistrate judge issued a report and recommendation recommending the court: (i) deny the motion for preliminary injunction/temporary restraining order; and (ii) deny Baxter’s motion for judgment on the pleadings. The District Court has not yet entered its final order.

In September 2023, PSP LLC, PPI and EPIC received a notice letter from Long Grove Pharmaceuticals, LLC (Long Grove) pursuant to 505(b)(3)(B)-(D) of the FFDCA of its NDA submitted under 21 U.S.C. §355(b)(2) seeking FDA approval for vasopressin injection products in 20 units/100 ml, 40 units/100 ml, and 50 units/50ml strengths. In December 2023, PSP LLC, PPI and EPIC filed a complaint against Long Grove in the U.S. District Court for the District of Delaware asserting infringement of two patents. These patents are not listed in the Orange Book; therefore, the patent infringement suit does not trigger a 30-month stay on FDA approval of Long Grove’s NDA.

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 in 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.

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued expenses included the following at December 31, 2023 and December 31, 2022 (in thousands):


	December 31, 2023		December 31, 2022
Trade accounts payable	$	94,735	$	109,033
Returns and allowances	119,577		160,619
Rebates	105,428		167,516

Other sales deductions	3,212		7,116

Accrued payroll and related benefits	81,145		95,666
Accrued royalties and other distribution partner payables	35,856		24,072

Other (1)	97,783		123,161
Total	$	537,736	$	687,183

__________

(1)Amounts include a wide variety of accrued expenses, the most significant of which relate to accrued legal and other professional fees.

DISCONTINUED OPERATIONS AND ASSETS SALES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
(Loss) income from discontinued operations, net of tax		$ (2,021)	$ (13,487)	$ (44,164)
Asset impairments		503	2,142,746	414,977
2020 Restructuring Initiative
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Asset impairments			0	42,155
Pre-tax reversal of severance costs			(1,216)	7,384
Discontinued Operations, Disposed Of By Means Other Than Sale, Abandonment \| Astora
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
(Loss) income from discontinued operations, net of tax		$ (2,021)	$ (13,487)	(44,164)
Disposal Group, Disposed Of By Sale, Not Discontinued Operations \| Manufacturing Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Aggregate cash consideration from sale of assets	$ 18,500			25,600
Non-cash consideration from disposal				5,800
Disposal Group, Disposed Of By Sale, Not Discontinued Operations \| Manufacturing Facilities \| 2020 Restructuring Initiative
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Asset impairments	$ 8,400
Disposal Group, Disposed Of By Sale, Not Discontinued Operations \| Endo International PLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Asset impairments				42,200
Pre-tax reversal of severance costs				$ 25,400

SHAREHOLDERS’ DEFICIT (Details)	12 Months Ended
SHAREHOLDERS’ DEFICIT (Details)	Dec. 31, 2023 USD ($) shareholder $ / shares shares	Dec. 31, 2022 $ / shares shares
Schedule Of Stockholders' Equity
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 \| shareholder	7
2015 Share Buyback Program Member
Schedule Of Stockholders' Equity
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

INVENTORIES

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 8. INVENTORIES

Inventories consisted of the following at December 31, 2023 and December 31, 2022 (in thousands):


	December 31, 2023		December 31, 2022
Raw materials (1)	$	103,336	$	105,975
Work-in-process (1)	29,827		43,057
Finished goods (1)	112,854		125,467
Total	$	246,017	$	274,499

__________

(1)The components of inventory shown in the table above are net of allowances.

Inventory 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, 2023 and December 31, 2022, $29.7 million and $23.0 million, respectively, of noncurrent inventory was included in Other assets in the Consolidated Balance Sheets. As of December 31, 2023 and December 31, 2022, the Company’s Consolidated Balance Sheets included approximately $2.7 million and $5.8 million, respectively, of capitalized pre-launch inventories related to products that were not yet available to be sold.

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets Measured At Fair Value On A Nonrecurring Basis (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Assets:
Impairment of intangible assets, excluding goodwill	$ 0	$ (288,700,000)	$ (7,800,000)
Asset impairment charges of long-lived assets	$ (500,000)	(9,000,000)	$ (2,000,000)
Fair value, measurements, nonrecurring
Assets:
Impairment of intangible assets, excluding goodwill		(288,701,000)
Asset impairment charges of long-lived assets		(9,045,000)
Asset impairments		$ (297,746,000)
Fair value, measurements, nonrecurring \| Discount Rate \| Minimum
Assets:
Discount rate applied (percent)		0.095
Fair value, measurements, nonrecurring \| Discount Rate \| Maximum
Assets:
Discount rate applied (percent)		0.120
Fair value, measurements, nonrecurring \| Discount Rate \| Weighted Average
Assets:
Discount rate applied (percent)		0.118
Level 1 Inputs \| Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill		$ 0
Certain property, plant and equipment		0
Total		0
Level 2 Inputs \| Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill		0
Certain property, plant and equipment		0
Total		0
Level 3 Inputs \| Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill		67,082,000
Certain property, plant and equipment		0
Total		$ 67,082,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Consolidated Revenue (Details) - Revenue from Contract with Customer Benchmark	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Product Concentration Risk \| XIAFLEX®
Product Information
Concentration risk, percentage	24.00%	19.00%	14.00%
Product Concentration Risk \| Varenicline Tablets \| Maximum
Product Information
Concentration risk, percentage	8.00%	13.00%
Product Concentration Risk \| VASOSTRICT®
Product Information
Concentration risk, percentage		11.00%	30.00%
Cencora, Inc. \| Customer Concentration Risk
Product Information
Concentration risk, percentage	29.00%	35.00%	36.00%
McKesson Corporation \| Customer Concentration Risk
Product Information
Concentration risk, percentage	25.00%	26.00%	32.00%
Cardinal Health, Inc. \| Customer Concentration Risk
Product Information
Concentration risk, percentage	17.00%	20.00%	22.00%
CVS Health Corporation \| Customer Concentration Risk
Product Information
Concentration risk, percentage	16.00%	4.00%	0.00%

SEGMENT RESULTS - Schedule of Reconciliations of Consolidated Adjusted Loss Before Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information
Total consolidated loss from continuing operations before income tax				$ (2,391,924)	$ (2,888,102)	$ (546,603)
Amortization of intangible assets				255,933
Acquired in-process research and development				0	68,700	25,120
Asset impairment charges				503	2,142,746	414,977
Acquisition-related and integration items, net				1,972	408	(8,379)
Loss on extinguishment of debt				0	0	13,753
Reorganization items, net				1,169,961	202,978	0
Total segment adjusted income from continuing operations before income tax				871,091	1,072,031	1,573,010
Charges related to rejection and cancellation of equity awards	$ 9,200
Gain (loss) from prior contract dispute						15,500
6.125% Senior Secured Notes due 2029
Segment Reporting Information
Loss on extinguishment of debt		$ 6,000
Cost Reduction
Segment Reporting Information
Accelerated depreciation					3,800	24,700
Selling, general and administrative \| 6.125% Senior Secured Notes due 2029
Segment Reporting Information
Loss on extinguishment of debt			$ 3,900
Debt modification costs						3,900
Employee Severance \| Cost Reduction
Segment Reporting Information
Restructuring charges				43,700	85,600	8,800
Inventory adjustments \| Cost Reduction
Segment Reporting Information
Restructuring charges					36,400
Certain Other Restructuring Costs \| Cost Reduction
Segment Reporting Information
Restructuring charges				400	72,700	57,400
Segment Reconciling Items
Segment Reporting Information
Interest expense, net				0	349,776	562,353
Corporate unallocated costs				158,717	182,335	180,866
Amortization of intangible assets				255,933	337,311	372,907
Acquired in-process research and development				0	68,700	25,120
Amounts related to continuity and separation benefits, cost reductions and strategic review initiatives				44,098	198,381	90,912
Certain litigation-related and other contingencies, net				1,611,090	478,722	345,495
Certain legal costs				7,256	31,756	136,148
Asset impairment charges				503	2,142,746	414,977
Acquisition-related and integration items, net				1,972	408	(8,379)
Loss on extinguishment of debt				0	0	13,753
Foreign currency impact related to the remeasurement of intercompany debt instruments				2,159	(5,328)	797
Reorganization items, net				1,169,961	202,978	0
Other, net				11,326	(27,652)	(15,336)
Operating Segments
Segment Reporting Information
Total segment adjusted income from continuing operations before income tax				$ 871,091	$ 1,072,031	$ 1,573,010

INVENTORIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Long-term inventory	$ 29.7	$ 23.0
Inventories not yet available for sale	$ 2.7	$ 5.8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedules of Concentration of Risk, by Risk Factor

Net revenues from direct customers that accounted for 10% or more of our total consolidated net revenues during the years ended December 31, 2023, 2022 and 2021 are as follows:


	2023		2022		2021
Cencora, Inc. (1)	29	%	35	%	36	%
McKesson Corporation	25	%	26	%	32	%
Cardinal Health, Inc.	17	%	20	%	22	%
CVS Health Corporation (1)	16	%	4	%	—	%

__________

(1)During the second quarter of 2022, CVS Health Corporation finalized the acquisition of US Bioservices from Cencora, Inc. (known as AmerisourceBergen Corporation at the time).

BANKRUPTCY PROCEEDINGS - Liabilities Subject to Compromise (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Reorganizations [Abstract]
Accounts payable	$ 32,281	$ 30,317
Accrued interest	160,617	160,617
Debt	8,147,826	7,834,717
Litigation accruals	2,431,455	820,805
Uncertain tax positions	259,611	235,176
Other	64,078	87,150
Total	$ 11,095,868	$ 9,168,782

DEBT

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

DEBT

NOTE 15. DEBT

The following table presents information about the Company’s total indebtedness at December 31, 2023 and December 31, 2022 (dollars in thousands):


	December 31, 2023						December 31, 2022
	Effective Interest Rate (1)		Principal Amount (2)		Carrying Amount (2)		Effective Interest Rate (1)		Principal Amount (2)		Carrying Amount (2)


5.375% Senior Notes due 2023	5.38	%	$	6,127	$	6,127	5.38	%	$	6,127	$	6,127
6.00% Senior Notes due 2023	6.00	%	56,436		56,436		6.00	%	56,436		56,436
5.875% Senior Secured Notes due 2024	6.88	%	300,000		300,000		6.88	%	300,000		286,375
6.00% Senior Notes due 2025	6.00	%	21,578		21,578		6.00	%	21,578		21,578
7.50% Senior Secured Notes due 2027	8.50	%	2,015,479		2,015,479		8.50	%	2,015,479		1,894,774
9.50% Senior Secured Second Lien Notes due 2027	9.50	%	940,590		940,590		9.50	%	940,590		940,590
6.00% Senior Notes due 2028	6.00	%	1,260,416		1,260,416		6.00	%	1,260,416		1,260,416
6.125% Senior Secured Notes due 2029	7.13	%	1,295,000		1,295,000		7.13	%	1,295,000		1,230,799
Term Loan Facility	14.50	%	1,975,000		1,975,000		13.50	%	1,975,000		1,871,894
Revolving Credit Facility	12.00	%	277,200		277,200		11.00	%	277,200		265,728

Total (3)			$	8,147,826	$	8,147,826			$	8,147,826	$	7,834,717

__________

(1)As noted below, beginning on the Petition Date, we ceased recognition of interest expense related to all of our debt instruments and began to incur “adequate protection payments” (further discussed below) related to our First Lien Debt Instruments (representing all of our debt instruments except for our senior unsecured notes and the 9.50% Senior Secured Second Lien Notes due 2027). The December 31, 2023 and December 31, 2022 “effective interest rates” included in the table above represent the rates in effect on such dates used to calculate: (i) future adequate protection payments related to our First Lien Debt Instruments and (ii) future contractual interest related to our other debt instruments, notwithstanding the fact that such interest is not currently being recognized. These rates are expressed as a percentage of the contractual principal amounts outstanding as of such date and, with respect to our First Lien Debt Instruments, without consideration of any reductions related to adequate protection payments made through such date, if applicable.

(2)The December 31, 2023 and December 31, 2022 principal amounts represent the amount of unpaid contractual principal owed on the respective instruments. During the third quarter of 2022, in accordance with ASC 852, we adjusted the carrying amounts of all unsecured and potentially undersecured debt instruments to equal the expected amount of the allowed claim by expensing (within Reorganization items, net in the Consolidated Statements of Operations) $89.2 million of previously deferred and unamortized costs associated with these instruments. The December 31, 2023 carrying amounts of our First Lien Debt Instruments are further discussed below. The December 31, 2022 carrying amounts of our First Lien Debt Instruments reflect reductions for certain adequate protection payments made since the Petition Date.

(3)As of December 31, 2023 and December 31, 2022, the entire carrying amount our debt, as well as any related remaining accrued and unpaid interest that existed as of the Petition Date, is included in the Liabilities subject to compromise line in the Consolidated Balance Sheets.

General Information

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, 2023. The obligations under: (i) the 5.875% Senior Secured Notes due 2024; (ii) the 7.50% Senior Secured Notes due 2027; (iii) the 6.125% Senior Secured Notes due 2029; and (iv) the Credit Agreement and related loan documents are secured on a pari passu basis by a 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 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, the 7.50% Senior Secured Notes due 2027 and the 6.125% Senior Secured Notes due 2029 and the related guarantees. Our senior unsecured notes are unsecured and effectively subordinated in right of priority to the obligations under the Credit Agreement, the 5.875% Senior Secured Notes due 2024, the 7.50% Senior Secured Notes due 2027, the 9.50% Senior Secured Second Lien Notes due 2027 and the 6.125% Senior Secured Notes due 2029, 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 determined based on Level 2 quoted market price inputs for the same or similar debt issuances, was $4.1 billion and $4.9 billion at December 31, 2023 and December 31, 2022, respectively.

Credit Facilities

The Company and certain of its subsidiaries are party to the 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 $2,000.0 million senior secured term loan facility (the Term Loan Facility and, together with the Revolving Credit Facility, the Credit Facilities). Current amounts outstanding as of December 31, 2023 under the Credit Facilities are set forth in the table above.

Principal payments on the Term Loan Facility equal to 0.25% of the initial $2,000.0 million principal amount are generally payable quarterly, beginning on June 30, 2021 and extending until the Term Loan Facility’s maturity date in March 2028, at which time the remaining principal amount outstanding is payable. Based on the Company’s borrowings under the Revolving Credit Facility outstanding at December 31, 2023, $74.6 million generally matures in 2024, with the remainder generally maturing in 2026.

Borrowings under the Revolving Credit Facility bear interest, at the borrower’s election, at a rate per annum equal to: (i) an applicable margin between 1.50% and 3.00% depending on the Company’s Total Net Leverage Ratio plus the Adjusted LIBO Rate (as defined in the Credit Agreement) 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 per annum equal to: (i) 5.00% plus the Adjusted LIBO Rate, subject to a London Interbank Offered Rate (LIBOR) floor of 0.75%, or (ii) 4.00% plus the Alternate Base Rate, subject to an Alternate Base Rate floor of 1.75%. Interest on these instruments is generally payable at the end of each interest period but at least every three months. The Credit Agreement includes provisions for a transition to an alternative benchmark rate other than LIBOR, which would have been effective upon notification from the applicable administrative agent. As a result of the ongoing Chapter 11 Cases, discussed in more detail below, the Company is not currently making scheduled interest payments under the Credit Agreement and therefore no notification was received, or required, from the administrative agent regarding the shift of the benchmark rate.

The foregoing summary, which does not purport to be complete, is based on the terms of the Credit Agreement. Refer to the “Covenants, Events of Default and Bankruptcy-Related Matters” section below for a discussion of the effects of the ongoing bankruptcy proceedings and the related event of default on the Credit Facilities.

Senior Notes and Senior Secured Notes

The terms of the various senior notes and senior secured notes outstanding as of December 31, 2023 include maturities between 2023 and 2029. Interest on these notes is generally payable semiannually in arrears. 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. The foregoing summary, which does not purport to be complete, is based on the terms of the indentures governing our various senior notes and senior secured notes. Refer to the “Covenants, Events of Default and Bankruptcy-Related Matters” section below for a discussion of the effects of the ongoing bankruptcy proceedings and the related event of default on our various senior notes and senior secured notes.

Covenants, Events of Default and Bankruptcy-Related Matters

The agreements relating to our outstanding indebtedness contain certain covenants and events of default.

Beginning during the second quarter of 2022, we elected to not make the following interest payments on or prior to their scheduled due dates: (i) approximately $38 million that was due on June 30, 2022 with respect to our outstanding 6.00% Senior Notes due 2028; (ii) approximately $2 million that was due on July 15, 2022 with respect to our outstanding 5.375% Senior Notes due 2023 and 6.00% Senior Notes due 2023; (iii) approximately $45 million that was due on July 31, 2022 with respect to our outstanding 9.50% Senior Secured Second Lien Notes due 2027; and (iv) approximately $1 million that was due on August 1, 2022 with respect to our outstanding 6.00% Senior Notes due 2025. Under each of the indentures governing these notes, we had a 30-day grace period from the respective due dates to make these interest payments before such non-payments constituted events of default with respect to such notes. We chose to enter these grace periods while continuing discussions with certain creditors in connection with our evaluation of strategic alternatives. Our decision to enter these grace periods was not driven by liquidity constraints. We made the interest payment of approximately $38 million that became due on June 30, 2022 with respect to our outstanding 6.00% Senior Notes due 2028 on July 28, 2022, which was prior to the end of the applicable grace period. We also made the interest payments totaling approximately $2 million that became due on July 15, 2022 with respect to our outstanding 5.375% Senior Notes due 2023 and 6.00% Senior Notes due 2023 on August 11, 2022, which was prior to the end of the applicable grace periods.

On the Petition Date, the Debtors filed voluntary petitions for relief under the Bankruptcy Code, which constituted an event of default that accelerated our obligations under substantially all of our then-outstanding debt instruments. However, section 362 of the Bankruptcy Code stays creditors from taking any action to enforce the related financial obligations and creditors’ rights of enforcement in respect of the debt instruments are subject to the applicable provisions of the Bankruptcy Code.

As a result of the Chapter 11 Cases, since the Petition Date, we have not made, and we are not currently making, any scheduled principal or interest payments on the Credit Facilities or our various senior notes and senior secured notes. We are however making certain adequate protection payments as further discussed below. Additionally, as a result of the Chapter 11 Cases, all remaining commitments under the Revolving Credit Facility have been terminated.

The transactions contemplated by the amended RSA are subject to approval by the Bankruptcy Court, among other conditions. Accordingly, no assurance can be given that the transactions described therein will be consummated. Because the Company has not yet obtained approval by the Bankruptcy Court regarding such transactions, there remains uncertainty with respect to the ability of our creditors, including our secured and unsecured debt holders, to recover the full amount of their claims against us. As a result, all secured and unsecured debt instruments have been classified as Liabilities subject to compromise in our Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022, and we ceased the recognition of interest expense related to these instruments as of the Petition Date. During the years ended December 31, 2023 and 2022, we did not recognize approximately $638 million and $231 million, respectively, of contractual interest expense that would have been recognized if not for the Chapter 11 Cases.

As part of the RSA that is further discussed in Note 2. Bankruptcy Proceedings, the Company and the Ad Hoc First Lien Group agreed on the terms of a proposed order authorizing the Company’s use of cash collateral (as modified and entered by the Bankruptcy Court on a final (amended) basis in October 2022, the Cash Collateral Order) in connection with the Chapter 11 Cases on certain terms and conditions set forth therein.

Pursuant to the Cash Collateral Order that is further discussed in Note 2. Bankruptcy Proceedings, we are, among other things, obligated to make certain adequate protection payments during our bankruptcy proceedings on each of our First Lien Debt Instruments. These adequate protection payments include the payment of amounts equal to any accrued and unpaid interest that existed as of the Petition Date by no later than eight business days after entry of the interim Cash Collateral Order, as well as the following payments, to be paid on the last business day of each calendar month, calculated based upon a rate of:

•with respect to the Revolving Credit Facility and the Term Loan Facility, 200 basis points plus: (i) if denominated in dollars, ABR plus the Applicable Rate (each as defined in the Credit Agreement), or (ii) if denominated in Canadian dollars, the Canadian Prime Rate plus the Applicable Rate (each as defined in the Credit Agreement); and

•with respect to the applicable senior secured notes, 100 basis points plus the applicable rate of interest set forth on the face of the applicable note.

The rates in the foregoing bullet points, which are used to calculate any applicable adequate protection payments, are expressed as a percentage of the contractual principal amounts outstanding without consideration of any reductions related to adequate protection payments. On a cumulative basis through December 31, 2023, we made the following adequate protection payments pursuant to the Cash Collateral Order:

•$43.5 million with respect to the Revolving Credit Facility;

•$379.7 million with respect to the Term Loan Facility; and

•$482.7 million with respect to the applicable senior secured notes.

Adequate protection payments have generally been recorded as a reduction of the carrying amount of the respective First Lien Debt Instruments, which are classified as Liabilities subject to compromise. This accounting treatment is due to the aforementioned uncertainties with respect to the ultimate outcome of the bankruptcy proceedings which creates uncertainties surrounding the holders of First Lien Debt Instruments ability to recover, in full, the amount of outstanding principal associated with those instruments. Accordingly, from the Petition Date and through the third quarter of 2023, the carrying amounts of the respective First Lien Debt Instruments were reduced by the amount of adequate protection payments made. In December 2023, the Plan and related disclosure statement were filed with the Bankruptcy Court, which included for the first time, among other things, the estimated allowed claims with respect to outstanding debt obligations. As a result, we adjusted the carrying amount of all unsecured and potentially undersecured debt obligations at December 31, 2023 to equal the expected amount of the allowed claim as detailed in the Plan, resulting in an adjustment of approximately $905.9 million to Liabilities subject to compromise and a corresponding expense recognized within Reorganization items, net in the Consolidated Statements of Operations. As further discussed in Note 2. Bankruptcy Proceedings, on January 12, 2024, the Bankruptcy Court entered an order conditionally approving our disclosure statement. Certain of the adequate protection payments may later be characterized as interest expense depending upon certain developments in the Chapter 11 Cases.

In addition to the terms described above, the Cash Collateral Order, among other things, establishes a budget for the Debtors’ use of cash collateral, establishes certain informational rights for the Debtors’ secured creditors and provides for the waiver of certain Bankruptcy Code provisions. The foregoing description of the Cash Collateral Order does not purport to be complete and is qualified in its entirety by reference to the Cash Collateral Order entered by the Bankruptcy Court in the Chapter 11 Cases.

Debt Financing Transactions

Set forth below are certain disclosures relating to debt financing transactions that occurred during the years ended December 31, 2023, 2022 and 2021.

March 2021 Refinancing

In March 2021, the Company executed certain transactions (the March 2021 Refinancing Transactions) that included:

•refinancing in full its previously-existing term loans, which had approximately $3,295.5 million of principal outstanding immediately before refinancing (the Existing Term Loans), with the proceeds from: (i) a new $2,000.0 million term loan (the Term Loan Facility) and (ii) $1,295.0 million of newly issued 6.125% Senior Secured Notes due 2029 (collectively, the Term Loan Refinancing);

•extending the maturity of approximately $675.3 million of existing revolving commitments under the Revolving Credit Facility to March 2026; and

•making certain other modifications to the credit agreement that was in effect immediately prior to the March 2021 Refinancing Transactions (the Prior Credit Agreement).

The changes to the Credit Facilities and the Prior Credit Agreement were effected pursuant to an amendment and restatement agreement entered into by the Company in March 2021 (the Restatement Agreement), which amended and restated the Prior Credit Agreement (as amended and restated by the Restatement Agreement, the Credit Agreement), among Endo International plc, certain of its subsidiaries, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, issuing bank and swingline lender.

The $2,000.0 million portion of the Term Loan Refinancing associated with the new term loan was accounted for as a debt modification, while the $1,295.0 million portion associated with the new notes issued was accounted for as an extinguishment. During the first quarter of 2021, in connection with the Term Loan Refinancing, $7.8 million of deferred and unamortized costs associated with the Existing Term Loans, representing the portion associated with the extinguishment, was charged to expense and is included in the Loss on extinguishment of debt line item in the Consolidated Statements of Operations. The Company also incurred an additional $56.7 million of new costs and fees, of which: (i) $29.2 million and $17.6 million were initially deferred to be amortized as interest expense over the terms of the Term Loan Facility and the newly issued 6.125% Senior Secured Notes due 2029, respectively; (ii) $6.0 million was considered debt extinguishment costs and was charged to expense in the first quarter of 2021 and is included in the Loss on extinguishment of debt line item in the Consolidated Statements of Operations; and (iii) $3.9 million was considered debt modification costs and was charged to expense in the first quarter of 2021 and is included in the Selling, general and administrative expense line item in the Consolidated Statements of Operations. The deferred amounts were being amortized as interest expense until the initiation of our bankruptcy proceedings during the third quarter of 2022, at which time the remaining unamortized costs were expensed as Reorganization items, net in the Consolidated Statements of Operations.

During the first quarter of 2021, the Company also incurred $2.1 million of new costs and fees associated with the extension of the Revolving Credit Facility, which were initially deferred to be amortized as interest expense over the new term of the Revolving Credit Facility. The deferred amounts were being amortized as interest expense until the initiation of our bankruptcy proceedings during the third quarter of 2022, at which time the remaining unamortized costs were expensed as Reorganization items, net in the Consolidated Statements of Operations.

October 2021 Revolving Credit Facility Repayment and January 2022 Senior Notes Repayments

In October 2021, commitments under the Revolving Credit Facility of approximately $76.0 million matured, thereby reducing the remaining commitments outstanding under the Revolving Credit Facility. This maturity, which reduced the remaining credit available under the Revolving Credit Facility, occurred because the 7.25% Senior Notes due 2022 and the 5.75% Senior Notes due 2022 were not refinanced or repaid in full prior to the date that was 91 days prior to their January 15, 2022 maturity dates. As a result of this maturity, the Company repaid approximately $22.8 million of borrowings in October 2021, representing the amount that had been borrowed pursuant to these matured commitments. The 7.25% Senior Notes due 2022 and the 5.75% Senior Notes due 2022 were repaid in January 2022.

Maturities

As noted above, the initiation of our bankruptcy proceedings constituted an event of default that accelerated our obligations under substantially all of our then-outstanding debt instruments. The following table presents, as of December 31, 2023, for each of the five fiscal years subsequent to December 31, 2023, the stated maturities on our long-term debt that would have been applicable if not for such acceleration (in thousands):


	Maturities (1)
2024 (2)	$	394,600
2025	$	41,578
2026 (2)	$	222,600
2027	$	2,976,069
2028	$	3,125,416

__________

(1)The terms of the Credit Agreement provide that certain amounts borrowed pursuant to the Credit Facilities could mature prior to their scheduled maturity date if certain of our senior notes are not refinanced or repaid prior to the date that is 91 days prior to the respective stated maturity dates thereof. The amounts in this maturities table do not reflect any potential early repayments or refinancings.

(2)Based on the Company’s borrowings under the Revolving Credit Facility that were outstanding at December 31, 2023, $74.6 million would have matured in 2024, with the remainder maturing in 2026.

As discussed above, as a result of the Chapter 11 Cases, since the Petition Date, we have not made, and we are not currently making, any scheduled principal or interest payments on the Credit Facilities or our various senior notes and senior secured notes. Therefore, the timing and amount of any future principal and interest payments is uncertain. The table above excludes $30.0 million of principal outstanding on our Term Loan Facility that, pursuant to the terms of the Credit Agreement, matured on or before December 31, 2023 but has not yet been paid as a result of the Chapter 11 Cases. Additionally, the table above excludes $62.6 million of principal outstanding on our 5.375% Senior Notes due 2023 and 6.00% Senior Notes due 2023 that matured on or before December 31, 2023 but has not yet been paid as a result of the Chapter 11 Cases.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

GOODWILL AND OTHER INTANGIBLES - Narrative (Details)	3 Months Ended		6 Months Ended	12 Months Ended
GOODWILL AND OTHER INTANGIBLES - Narrative (Details)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 01, 2023	Oct. 01, 2022	Oct. 01, 2021
Goodwill
Amortization expense				$ 255,933,000
Goodwill impairment charges					$ 1,845,000,000
Impairment of intangible assets				0	$ 288,700,000	$ 7,800,000
Branded Pharmaceuticals \| Discount Rate
Goodwill
Intangible assets and goodwill, measurement input (percent)	0.150		0.135				0.145	0.150	0.145
Sterile Injectables
Goodwill
Goodwill impairment charges	$ 97,000,000		$ 1,748,000,000
Sterile Injectables \| Discount Rate
Goodwill
Intangible assets and goodwill, measurement input (percent)	0.195		0.185		0.145		0.145	0.195	0.110
Paladin Labs Inc.
Goodwill
Goodwill impairment charges		$ 363,000,000
Segment Reconciling Items
Goodwill
Amortization expense				$ 255,933,000	$ 337,311,000	$ 372,907,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 777,919	$ 1,018,883
Restricted cash and cash equivalents	167,702	145,358
Accounts receivable, net	386,919	493,988
Inventories, net	246,017	274,499
Prepaid expenses and other current assets	82,163	136,923
Income taxes receivable	7,781	7,117
Total current assets	1,668,501	2,076,768
PROPERTY, PLANT AND EQUIPMENT, NET	476,240	438,314
OPERATING LEASE ASSETS	23,033	28,070
GOODWILL	1,352,011	1,352,011
OTHER INTANGIBLES, NET	1,477,883	1,732,935
OTHER ASSETS	139,626	129,839
TOTAL ASSETS	5,137,294	5,757,937
CURRENT LIABILITIES:
Accounts payable and accrued expenses	537,736	687,183
Current portion of operating lease liabilities	956	903
Income taxes payable	102	1,541
Total current liabilities	538,794	689,627
DEFERRED INCOME TAXES	16,248	13,825
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	4,132	5,129
OTHER LIABILITIES	79,812	42,746
LIABILITIES SUBJECT TO COMPROMISE	11,095,868	9,168,782
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, 2023 and December 31, 2022	44	43
Ordinary shares, $0.0001 par value; 1,000,000,000 shares authorized; 235,219,612 and 235,208,039 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	24	24
Additional paid-in capital	8,980,561	8,969,322
Accumulated deficit	(15,354,427)	(12,904,620)
Accumulated other comprehensive loss	(223,762)	(226,941)
Total shareholders’ deficit	(6,597,560)	(4,162,172)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	$ 5,137,294	$ 5,757,937

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS (Details) - Valuation Allowance for Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Valuation Allowance For Deferred Tax Assets:
Balance at Beginning of Period	$ 10,436,419	$ 10,169,294	$ 9,668,556
Additions, Costs and Expenses	6,431,095	273,538	504,499
Deductions, Write-offs	0	(46)	(9)
Other	6,125	(6,367)	(3,752)
Balance at End of Period	$ 16,873,639	$ 10,436,419	$ 10,169,294

COVER - USD ($)	12 Months Ended
COVER - USD ($)	Dec. 31, 2023	Feb. 28, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
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
No Trading Symbol Flag	true
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 4,084,766
Entity Ordinary Shares Outstanding (in shares)		235,219,612
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001593034

RESTRUCTURING (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following pre-tax net amounts related to the 2020 Restructuring Initiative are included in the Company’s Consolidated Statements of Operations during the years ended December 31, 2022 and 2021 (in thousands):



	2022		2021
Net restructuring charges (charge reversals) related to:
Accelerated depreciation	$	3,773	$	24,718
Asset impairments	—		42,155
Inventory adjustments	1,494		6,968
Employee separation, continuity and other benefit-related costs	1,216		(7,384)
Certain other restructuring costs	795		2,012
Total	$	7,278	$	68,469



	2022		2021
Net restructuring charges (charge reversals) related to:
Cost of revenues	$	3,966	$	6,244
Selling, general and administrative	208		20,788
Research and development	3,104		1,367
Asset impairment charges	—		42,155
Other income, net	—		(2,085)
Total	$	7,278	$	68,469

The following pre-tax net amounts related to the 2022 Restructuring Initiative are included in the Company’s Consolidated Statements of Operations during the year ended December 31, 2022 (in thousands):



	2022
Net restructuring charges related to:

Asset impairments	$	180,248
Inventory adjustments	34,870
Employee separation, continuity and other benefit-related costs	28,345
Certain other restructuring costs	8,656
Total	$	252,119



	2022
Net restructuring charges included in:
Cost of revenues	$	49,078
Selling, general and administrative	18,692
Research and development	4,101
Asset impairment charges	180,248

Total	$	252,119

Schedule of Restructuring Reserve by Type of Cost

Changes to the liability for the 2020 Restructuring Initiative during the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2020	$	58,338	$	664	$	59,002
Net (charge reversals) charges	(7,384)		3,711		(3,673)
Cash payments	(39,975)		(4,170)		(44,145)
Liability balance as of December 31, 2021	$	10,979	$	205	$	11,184
Net charges	1,216		796		2,012
Cash payments	(11,926)		(1,001)		(12,927)
Liability balance as of December 31, 2022	$	269	$	—	$	269
Net (charge reversals) charges	(198)		—		(198)
Cash payments	(71)		—		(71)
Liability balance as of December 31, 2023	$	—	$	—	$	—

Changes to the liability for the 2022 Restructuring Initiative during the years ended December 31, 2023 and 2022 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2021	$	—	$	—	$	—
Net charges	28,345		1,102		29,447
Cash payments	(13,348)		(1,102)		(14,450)
Liability balance as of December 31, 2022	$	14,997	$	—	$	14,997
Net charge reversals	(248)		—		(248)
Cash payments	(13,376)		—		(13,376)
Liability balance as of December 31, 2023	$	1,373	$	—	$	1,373

LEASES - Cash Flow and Supplemental Noncash Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$ 10,476	$ 13,152	$ 14,478
Operating cash payments for finance leases	1,148	1,673	2,256
Financing cash payments for finance leases	6,733	6,062	5,448
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$ 0	$ 1,296	$ 5,807

COMMITMENTS AND CONTINGENCIES - Schedule of Loss Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Mesh Liability Accrual
Ending balance	$ 2,431,500
Mesh related cases
Mesh Qualified Settlement Funds
Beginning balance	50,339
Cash distributions to settle disputes from Qualified Settlement Funds	(2,279)
Other	1,404
Ending balance	49,464
Mesh Liability Accrual
Other	1,404
Mesh related cases \| Mesh Liability Accrual
Mesh Qualified Settlement Funds
Other	1,404
Mesh Liability Accrual
Beginning balance	222,972
Additional charges	495
Cash distributions to settle disputes from Qualified Settlement Funds	(2,279)
Other	1,404
Ending balance	$ 222,592

RESTRUCTURING

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING

NOTE 5. RESTRUCTURING

2020 Restructuring Initiative

As noted above, in November 2020, the Company announced the initiation of several strategic actions to optimize the Company’s operations and increase overall efficiency. These actions were initiated with the expectation of, among other things, generating significant cost savings to be reinvested, among other things, to support the Company’s key strategic priority to expand and enhance its product portfolio. These actions included the following:

•Optimizing the Company’s retail generics business cost structure by exiting manufacturing and other sites in Irvine, California; Chestnut Ridge, New York and India.

•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 was reduced by approximately 300 net full-time positions. Future costs associated with the 2020 Restructuring Initiative are not expected to be material.

There have been no material charges or cash payments associated with the 2020 Restructuring Initiative in 2023.



	2022		2021
Net restructuring charges (charge reversals) related to:
Accelerated depreciation	$	3,773	$	24,718
Asset impairments	—		42,155
Inventory adjustments	1,494		6,968
Employee separation, continuity and other benefit-related costs	1,216		(7,384)
Certain other restructuring costs	795		2,012
Total	$	7,278	$	68,469

These pre-tax net amounts were primarily attributable to our Generic Pharmaceuticals segment, which incurred $5.4 million and $49.9 million of pre-tax net charges during the years ended December 31, 2022 and 2021, respectively. The remaining amounts related to our other segments and certain corporate unallocated costs.

As of December 31, 2022, cumulative amounts incurred to date included charges related to accelerated depreciation of $51.0 million, asset impairments related to certain identifiable intangible assets, operating lease assets and disposal groups totaling $49.5 million, inventory adjustments of $11.6 million, employee separation, continuity and other benefit-related costs, net of $53.9 million and certain other restructuring costs of $3.5 million. Of these amounts, $134.3 million was attributable to the Generic Pharmaceuticals segment, with the remaining amounts relating to our other segments and certain corporate unallocated costs.



	2022		2021
Net restructuring charges (charge reversals) related to:
Cost of revenues	$	3,966	$	6,244
Selling, general and administrative	208		20,788
Research and development	3,104		1,367
Asset impairment charges	—		42,155
Other income, net	—		(2,085)
Total	$	7,278	$	68,469

In addition to the pre-tax net amounts summarized above, as part of the 2020 Restructuring Initiative, we recognized a pre-tax disposal gain of approximately $8.4 million during the fourth quarter of 2022 as a result of the Chestnut Ridge, New York sale transaction, which is further described in Note 4. Discontinued Operations and Asset Sales. The assets sold primarily related to our Generic Pharmaceuticals segment.

Changes to the liability for the 2020 Restructuring Initiative during the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2020	$	58,338	$	664	$	59,002
Net (charge reversals) charges	(7,384)		3,711		(3,673)
Cash payments	(39,975)		(4,170)		(44,145)
Liability balance as of December 31, 2021	$	10,979	$	205	$	11,184
Net charges	1,216		796		2,012
Cash payments	(11,926)		(1,001)		(12,927)
Liability balance as of December 31, 2022	$	269	$	—	$	269
Net (charge reversals) charges	(198)		—		(198)
Cash payments	(71)		—		(71)
Liability balance as of December 31, 2023	$	—	$	—	$	—

2022 Restructuring Initiative

In April 2022, the Company communicated the initiation of actions to streamline and simplify certain functions, including its commercial organization, to increase its overall organizational effectiveness and better align with current and future needs. In December 2022, the Company announced it would be taking certain additional actions to cease the production and sale of QWO® in light of market concerns about the extent and variability of bruising following initial treatment as well as the potential for prolonged skin discoloration. These actions, which are collectively referred to herein as the 2022 Restructuring Initiative, were initiated with the expectation of, among other things, generating cost savings, with a portion to be reinvested to support the Company’s key strategic priority to expand and enhance its product portfolio. In December 2022, the Bankruptcy Court approved an order authorizing the Company to cease the production and commercialization of QWO® and granting related relief.

As a result of the 2022 Restructuring Initiative, the Company’s global workforce was reduced by approximately 175 net full-time positions. Future costs associated with the 2022 Restructuring Initiative are not expected to be material.

There have been no material charges associated with the 2022 Restructuring Initiative in 2023.



	2022
Net restructuring charges related to:

Asset impairments	$	180,248
Inventory adjustments	34,870
Employee separation, continuity and other benefit-related costs	28,345
Certain other restructuring costs	8,656
Total	$	252,119

These pre-tax net amounts were primarily attributable to our Branded Pharmaceuticals segment, which incurred $238.6 million of pre-tax net charges during the year ended December 31, 2022. The remaining amounts related to our Generic Pharmaceuticals segment and certain corporate unallocated costs.

As of December 31, 2022, cumulative amounts incurred to date included charges related to asset impairments related to certain identifiable intangible assets of $180.2 million, inventory adjustments of $34.9 million, employee separation, continuity and other benefit-related costs, net of $28.3 million and certain other restructuring costs of $8.7 million. Of these amounts, $238.6 million was attributable to the Branded Pharmaceuticals segment, with the remaining amounts related to our Generic Pharmaceuticals segment and certain corporate unallocated costs.



	2022
Net restructuring charges included in:
Cost of revenues	$	49,078
Selling, general and administrative	18,692
Research and development	4,101
Asset impairment charges	180,248

Total	$	252,119

Changes to the liability for the 2022 Restructuring Initiative during the years ended December 31, 2023 and 2022 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2021	$	—	$	—	$	—
Net charges	28,345		1,102		29,447
Cash payments	(13,348)		(1,102)		(14,450)
Liability balance as of December 31, 2022	$	14,997	$	—	$	14,997
Net charge reversals	(248)		—		(248)
Cash payments	(13,376)		—		(13,376)
Liability balance as of December 31, 2023	$	1,373	$	—	$	1,373

The liability at December 31, 2023 is classified as current and is included in Accounts payable and accrued expenses in the Consolidated Balance Sheets.

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Reorganizations [Abstract]

Schedule of Condensed Combined Financial Statements of the Debtors





CONDENSED COMBINED BALANCE SHEETS
(Dollars in thousands)

	December 31, 2023		December 31, 2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	735,927	$	991,901
Restricted cash and cash equivalents	81,806		59,358
Accounts receivable, net	375,613		478,889
Inventories, net	219,230		241,349
Prepaid expenses and other current assets	68,245		111,807
Income taxes receivable	7,715		7,038

Receivables from Non-Debtor Affiliates	100,829		94,608
Total current assets	$	1,589,365	$	1,984,950

PROPERTY, PLANT AND EQUIPMENT, NET	250,286		233,114
OPERATING LEASE ASSETS	19,002		23,200
GOODWILL	1,352,011		1,352,011
OTHER INTANGIBLES, NET	1,477,883		1,732,935

INVESTMENTS IN NON-DEBTOR AFFILIATES	48,253		50,001
RECEIVABLES FROM NON-DEBTOR AFFILIATES	258,445		240,002
OTHER ASSETS	134,224		126,494
TOTAL ASSETS	$	5,129,469	$	5,742,707
LIABILITIES AND DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses	$	510,697	$	654,414

Current portion of operating lease liabilities	248		230

Income taxes payable	181		10

Payables to Non-Debtor Affiliates	14,419		20,162
Total current liabilities	$	525,545	$	674,816
DEFERRED INCOME TAXES	16,248		13,479


OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	750		994

OTHER LIABILITIES	74,223		37,367
LIABILITIES SUBJECT TO COMPROMISE	11,095,868		9,168,782
TOTAL DEFICIT	(6,583,165)		(4,152,731)
TOTAL LIABILITIES AND DEFICIT	$	5,129,469	$	5,742,707





CONDENSED COMBINED STATEMENTS OF OPERATIONS
(Dollars in thousands)


	2023		2022
TOTAL REVENUES, NET	$	2,011,565	$	2,321,426
COSTS AND EXPENSES:
Cost of revenues	954,349		1,106,855
Selling, general and administrative	558,183		764,768
Research and development	124,987		137,851
Acquired in-process research and development	—		68,700
Litigation-related and other contingencies, net	1,611,090		478,722
Asset impairment charges	503		2,137,107
Acquisition-related and integration items, net	1,972		408

Interest (income) expense, net	(11,660)		345,593

Reorganization items, net	1,169,961		202,978
Other income, net	(9,330)		(13,409)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	$	(2,388,490)	$	(2,908,147)
INCOME TAX EXPENSE	52,521		17,721
LOSS FROM CONTINUING OPERATIONS	$	(2,441,011)	$	(2,925,868)
DISCONTINUED OPERATIONS, NET OF TAX	(2,021)		(13,468)
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES	$	(2,443,032)	$	(2,939,336)
EQUITY IN LOSS OF NON-DEBTOR AFFILIATES, NET OF TAX	(1,822)		22,671
NET LOSS	$	(2,444,854)	$	(2,916,665)





CONDENSED COMBINED STATEMENTS OF COMPREHENSIVE LOSS
(Dollars in thousands)


	2023		2022
NET LOSS	$	(2,444,854)	$	(2,916,665)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	$	3,179	$	(10,496)
Total other comprehensive income (loss)	$	3,179	$	(10,496)
COMPREHENSIVE LOSS	$	(2,441,675)	$	(2,927,161)





CONDENSED COMBINED STATEMENTS OF CASH FLOWS
(Dollars in thousands)


	2023		2022
OPERATING ACTIVITIES:
Net cash provided by operating activities (1)	$	416,541	$	209,523
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(67,149)		(43,743)
Capitalized interest payments	—		(3,140)
Proceeds from the U.S. Government Cooperative Agreement	39,397		18,635

Acquisitions, including in-process research and development, net of cash and restricted cash acquired	—		(90,320)




Proceeds from sale of business and other assets	5,134		41,400
Proceeds from loans made to Non-Debtor Affiliates	1,572		2,355
Disbursements for loans made to Non-Debtor Affiliates	(25,243)		(51,486)

Net cash used in investing activities	$	(46,289)	$	(126,299)
FINANCING ACTIVITIES:


Repayments of notes	—		(180,342)
Repayments of term loans	—		(10,000)


Adequate protection payments	(592,759)		(313,109)
Repayments of other indebtedness	(6,733)		(6,062)

Payments for contingent consideration	(5,136)		(2,462)
Payments of tax withholding for restricted shares	—		(1,898)


Net cash used in financing activities	$	(604,628)	$	(513,873)
Effect of foreign exchange rate	850		(1,790)

NET DECREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	$	(233,526)	$	(432,439)
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,136,259		1,568,698
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	$	902,733	$	1,136,259

__________

OTHER INCOME, NET

12 Months Ended

Dec. 31, 2023

Component of Operating Income [Abstract]

OTHER INCOME, NET

NOTE 20. OTHER INCOME, NET

The components of Other income, net for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):



	2023		2022		2021
Net gain on sale of business and other assets (1)	$	(10,392)	$	(26,183)	$	(4,516)
Foreign currency loss (gain), net (2)	1,779		(2,087)		1,253
Net (gain) loss from our investments in the equity of other companies (3)	(199)		378		453
Other miscellaneous, net (4)	(876)		(6,162)		(16,964)
Other income, net	$	(9,688)	$	(34,054)	$	(19,774)

__________

(1)Amounts primarily relate to the sales of certain intellectual property rights and certain other assets including, in 2022 and 2021, assets associated with the sale transactions that are further discussed in Note 4. Discontinued Operations and Asset Sales.

(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 2021 include gains of $15.5 million associated with the termination of certain contracts.

LEASES - Future Cash Flows Included In Our Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 6,136
2025	6,747
2026	5,496
2027	5,380
2028	3,412
Thereafter	1,214
Total future lease payments	28,385
Less: amounts representing interest	2,662
Present value of future lease payments (lease liabilities, including amounts classified as Liabilities subject to compromise)	25,723
Less: amounts classified as Liabilities subject to compromise	20,635	$ 28,387
Lease liabilities, excluding amounts classified as Liabilities subject to compromise	5,088	6,032
Finance Leases
2024	8,037
2025	896
2026	895
2027	895
2028	299
Thereafter	8,921
Total future lease payments	19,943
Less: amounts representing interest	8,576
Present value of future lease payments (lease liabilities, including amounts classified as Liabilities subject to compromise)	11,367
Less: amounts classified as Liabilities subject to compromise	9,981	17,078
Lease liabilities, excluding amounts classified as Liabilities subject to compromise	$ 1,386	$ 1,392

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ DEFICIT - USD ($) $ in Thousands	Total	Ordinary Shares	Euro Deferred Shares	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Shareholders' equity, beginning balance at Dec. 31, 2020	$ (647,939)	$ 23	$ 49	$ 8,938,012	$ (9,368,270)	$ (217,753)
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2020		230,315,768
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2020			4,000,000
Increase (Decrease) in Stockholders' Equity
Net loss	(613,245)				(613,245)
Other comprehensive income (loss)	1,308					1,308
Compensation related to share-based awards	$ 30,046			30,046
Exercise of options (in shares)	82,331	82,331
Exercise of options	$ 622			622
Ordinary shares issued (in shares)		3,292,717
Tax withholding for restricted shares	(14,774)			(14,774)
Other	(4)		$ (4)
Shareholders' equity, ending balance at Dec. 31, 2021	(1,243,986)	$ 23	$ 45	8,953,906	(9,981,515)	(216,445)
Shareholders' equity, ending balance (in shares) at Dec. 31, 2021			4,000,000
Shareholders' equity, ending balance (in shares) at Dec. 31, 2021		233,690,816
Increase (Decrease) in Stockholders' Equity
Net loss	(2,923,105)				(2,923,105)
Other comprehensive income (loss)	(10,496)					(10,496)
Compensation related to share-based awards	17,314			17,314
Ordinary shares issued		$ 1		(1)
Ordinary shares issued (in shares)		1,517,223
Tax withholding for restricted shares	(1,898)			(1,898)
Other	(1)		$ (2)	1
Shareholders' equity, ending balance at Dec. 31, 2022	$ (4,162,172)	$ 24	$ 43	8,969,322	(12,904,620)	(226,941)
Shareholders' equity, ending balance (in shares) at Dec. 31, 2022			4,000,000
Shareholders' equity, ending balance (in shares) at Dec. 31, 2022	235,208,039	235,208,039
Increase (Decrease) in Stockholders' Equity
Net loss	$ (2,449,807)				(2,449,807)
Other comprehensive income (loss)	3,179					3,179
Compensation related to share-based awards	11,240			11,240
Ordinary shares issued (in shares)		11,573
Other	0		$ 1	(1)
Shareholders' equity, ending balance at Dec. 31, 2023	$ (6,597,560)	$ 24	$ 44	$ 8,980,561	$ (15,354,427)	$ (223,762)
Shareholders' equity, ending balance (in shares) at Dec. 31, 2023			4,000,000
Shareholders' equity, ending balance (in shares) at Dec. 31, 2023	235,219,612	235,219,612

DISCONTINUED OPERATIONS AND ASSETS SALES

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS AND ASSETS SALES

NOTE 4. DISCONTINUED OPERATIONS AND ASSET SALES

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, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Litigation-related and other contingencies, net	$	495	$	—	$	25,000
Loss from discontinued operations before income taxes	$	(2,329)	$	(15,543)	$	(49,594)
Income tax benefit	$	(308)	$	(2,056)	$	(5,430)
Discontinued operations, net of tax	$	(2,021)	$	(13,487)	$	(44,164)

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 $2.0 million, $13.5 million and $44.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, and the impact of cash activity related to vaginal mesh cases. During the periods presented above, there were no material net cash flows related to Astora discontinued investing activities and there was no depreciation or amortization expense related to Astora.

Refer to Note 16. Commitments and Contingencies for amounts and additional information relating to vaginal mesh-related matters.

Certain Assets and Liabilities of Endo’s Retail Generics Business

In November 2020, we announced the initiation of several strategic actions to further optimize the Company’s operations and increase overall efficiency (the 2020 Restructuring Initiative), which are further discussed in Note 5. Restructuring. These actions include an initiative to exit certain of our manufacturing and other sites to optimize our retail generics business cost structure.

Certain of these sites and certain corresponding assets and liabilities were sold in 2021. The assets sold included certain of our manufacturing facilities and related fixed assets in Chestnut Ridge, New York and Irvine, California, as well as certain U.S. retail generics products and certain related product inventory. As a result of these sales, we became entitled to aggregate cash consideration of approximately $25.6 million, substantially all of which was received by December 31, 2021, as well as certain non-cash consideration of approximately $5.8 million. In connection with these sales, we recognized the following amounts in 2021: (i) a pre-tax disposal loss of $42.2 million to write down the carrying amount of the disposal group to fair value, less cost to sell, which we recorded in Asset impairment charges in the Consolidated Statements of Operations, and (ii) a pre-tax net reversal of $25.4 million of expense, primarily related to avoided severance costs for employees that transitioned to the purchasers in connection with these 2021 sales.

In 2022, we entered into a definitive agreement to sell certain additional assets located in Chestnut Ridge, New York to Ram Ridge Partners BH LLC. The assets primarily consisted of property, plant and equipment. In October 2022, the Bankruptcy Court approved the sale of the assets. The sale closed during the fourth quarter of 2022. As a result of this sale, we became entitled to aggregate cash consideration of approximately $18.5 million, substantially all of which was received by December 31, 2022. In connection with this sale, we recognized a pre-tax disposal gain of approximately $8.4 million in 2022, which we recorded in Other income, net in the Consolidated Statements of Operations.

The assets described in this section, which primarily related to the Company’s Generic Pharmaceuticals segment, did not meet the requirements for treatment as a discontinued operation. The amounts described in this section that were recognized in our Consolidated Statements of Operations are included in the quantitative disclosures of the 2020 Restructuring Initiative included in Note 5. Restructuring.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

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. 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 & Human Capital 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.

In February 2023, the Company filed post-effective amendments to its Form S-8 registration statements with respect to the 2015 Plan in order to deregister all remaining unissued securities.

In March 2023, in connection with the Company’s ongoing bankruptcy proceedings, the Company took action to reject all outstanding award agreements associated with stock options and stock awards. In connection with the rejection of these agreements, the Company recorded a charge of approximately $9.2 million during the first quarter of 2023 to recognize all remaining unrecognized compensation cost associated with these agreements.

At December 31, 2023, approximately 21.3 million ordinary shares were reserved for future grants under the 2015 Plan. As of December 31, 2023, stock options, restricted stock awards, PSUs, RSUs, long-term cash incentive awards and certain other cash-based awards have been granted under the stock incentive plans.

Generally, the grant-date fair value of each award was recognized as expense over the requisite service period. However, expense recognition differed in the case of certain PSUs where the ultimate payout was performance-based. For these awards, at each reporting period, the Company generally estimated the ultimate payout and adjusted the cumulative expense based on its estimate and the percent of the requisite service period that 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, 2023, 2022 and 2021 (in thousands).


	2023		2022		2021
Selling, general and administrative expenses	$	10,593	$	16,019	$	23,400
Research and development expenses	107		1,059		1,378
Cost of revenues	540		1,136		5,268

Total share-based compensation expense	$	11,240	$	18,214	$	30,046

As of December 31, 2023, there is no unrecognized compensation cost related to non-vested share-based compensation awards for which a grant date has been established as of December 31, 2023.

Stock Options

From time to time, the Company granted 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.

Although we have not granted employee stock options since 2018, previous grants have generally vested ratably, in equal amounts, over a three or four-year service period. As of December 31, 2023, there are no remaining stock options outstanding.

We estimated the fair value of stock option grants 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 were 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 was derived from the U.S. Treasury yield curve in effect at the time of grant. We estimated 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, 2023, 2022 and 2021 is presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of December 31, 2020	6,916,586	$	18.11

Exercised	(82,331)	$	7.55
Forfeited	(11,887)	$	13.19
Expired	(438,454)	$	40.76
Outstanding as of December 31, 2021	6,383,914	$	16.70



Expired	(1,304,602)	$	20.04
Outstanding as of December 31, 2022	5,079,312	$	15.84


Forfeited (1)	(2,854,056)	$	14.73
Expired	(2,225,256)	$	17.27
Outstanding as of December 31, 2023 (1)	—	$	—	—	$	—
Vested and expected to vest as of December 31, 2023 (1)	—	$	—	—	$	—
Exercisable as of December 31, 2023 (1)	—	$	—	—	$	—

__________

(1)In March 2023, the Bankruptcy Court entered orders authorizing the Company to reject outstanding stock option agreements, restricted stock award agreements and performance award agreements.

The total intrinsic value of options exercised during the year ended December 31, 2021 was $0.1 million. There were no material tax benefits from stock option exercises realized during any of the periods presented above.

Restricted Stock Units and Performance Share Units

From time to time, the Company granted 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.

As of December 31, 2023, there are no unvested RSUs or PSUs. Previous unvested RSUs were subject to three-year vesting periods, with ratable vesting on the first, second and third anniversaries of the respective grant dates, and unvested PSUs were subject to three-year service periods, after which the awards would vest in full (conditioned upon the achievement of performance and/or market conditions established by the Compensation & Human Capital Committee of the Board and certain continued employment conditions), with the actual number of shares awarded adjusted to between zero and 200% of the target award amount based upon the level of achievement of the performance criteria described below.

No PSUs were awarded in 2023 or 2022. PSUs awarded in 2021 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 PSUs upon issuance, with TSR performance being measured against the three-year TSR of a custom index of companies and FCF performance being measured against a target covering a three-year performance period. TSR is considered a market condition under applicable authoritative guidance, while FCF is considered performance condition.

RSUs were valued based on the closing price of Endo’s ordinary shares on the date of grant. PSUs with TSR conditions were valued using a Monte-Carlo variant valuation model, while those with FCF conditions were valued taking into consideration the probability of achieving the specified performance goal. The Monte-Carlo variant valuation model used considers 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, 2023, 2022 and 2021 is presented below:


	Number of Shares	Aggregate Intrinsic Value
Non-vested as of December 31, 2020	10,340,279
Granted	4,483,385

Forfeited	(1,302,292)
Vested	(5,380,262)
Non-vested as of December 31, 2021	8,141,110
Granted	280,373

Forfeited	(1,116,960)
Vested	(2,324,696)
Non-vested as of December 31, 2022	4,979,827


Forfeited (1)	(4,960,249)
Vested	(19,578)
Non-vested as of December 31, 2023 (1)	—	$	—
Vested and expected to vest as of December 31, 2023 (1)	—	$	—

__________

(1)In March 2023, the Bankruptcy Court entered orders authorizing the Company to reject outstanding stock option agreements, restricted stock award agreements and performance award agreements. In connection with the rejection of these agreements, the Company recognized the remaining unrecognized compensation cost associated with these agreements in 2023.

As of December 31, 2023, there was no weighted average remaining requisite service period of the units presented in the table above or remaining unrecognized compensation costs.

The weighted average grant-date fair value of the units granted during the years ended December 31, 2022 and 2021 was $3.21 and $7.39 per unit, respectively.

SEGMENT RESULTS - Schedule of Disaggregation of Revenues (Details) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue
TOTAL REVENUES, NET			$ 2,011,518,000	$ 2,318,875,000	$ 2,993,206,000
Product line revenue reporting threshold	$ 25,000,000			$ 25,000,000
XIAFLEX® \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue
Concentration risk, percentage			24.00%	19.00%	14.00%
VASOSTRICT® \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue
Concentration risk, percentage				11.00%	30.00%
Varenicline Tablets \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk \| Maximum
Disaggregation of Revenue
Concentration risk, percentage			8.00%	13.00%
Dexlansoprazole \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue
Concentration risk, percentage			6.00%
Branded Pharmaceuticals
Disaggregation of Revenue
TOTAL REVENUES, NET			$ 859,087,000	$ 851,142,000	$ 893,617,000
Branded Pharmaceuticals \| Specialty Products
Disaggregation of Revenue
TOTAL REVENUES, NET			645,660,000	621,700,000	633,150,000
Branded Pharmaceuticals \| XIAFLEX®
Disaggregation of Revenue
TOTAL REVENUES, NET			475,014,000	438,680,000	432,344,000
Branded Pharmaceuticals \| SUPPRELIN® LA
Disaggregation of Revenue
TOTAL REVENUES, NET			96,849,000	113,011,000	114,374,000
Branded Pharmaceuticals \| Other Specialty
Disaggregation of Revenue
TOTAL REVENUES, NET			73,797,000	70,009,000	86,432,000
Branded Pharmaceuticals \| Established Products
Disaggregation of Revenue
TOTAL REVENUES, NET			213,427,000	229,442,000	260,467,000
Branded Pharmaceuticals \| PERCOCET®
Disaggregation of Revenue
TOTAL REVENUES, NET			106,375,000	103,943,000	103,788,000
Branded Pharmaceuticals \| TESTOPEL®
Disaggregation of Revenue
TOTAL REVENUES, NET			42,464,000	38,727,000	43,636,000
Branded Pharmaceuticals \| Other Established
Disaggregation of Revenue
TOTAL REVENUES, NET			64,588,000	86,772,000	113,043,000
Sterile Injectables
Disaggregation of Revenue
TOTAL REVENUES, NET			429,563,000	589,633,000	1,266,097,000
Sterile Injectables \| ADRENALIN®
Disaggregation of Revenue
TOTAL REVENUES, NET			99,910,000	114,304,000	901,735,000
Sterile Injectables \| VASOSTRICT®
Disaggregation of Revenue
TOTAL REVENUES, NET			93,180,000	253,696,000	124,630,000
Sterile Injectables \| Other Sterile Injectables
Disaggregation of Revenue
TOTAL REVENUES, NET			236,473,000	221,633,000	239,732,000
Sterile Injectables \| Other Sterile Injectables \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue
Concentration risk, percentage	5.00%
Generic Pharmaceuticals
Disaggregation of Revenue
TOTAL REVENUES, NET			650,352,000	795,457,000	740,586,000
Generic Pharmaceuticals \| Dexlansoprazole \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue
Concentration risk, percentage		5.00%
International Pharmaceuticals
Disaggregation of Revenue
TOTAL REVENUES, NET			$ 72,516,000	$ 82,643,000	$ 92,906,000
International Pharmaceuticals \| Dexlansoprazole \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk \| Maximum
Disaggregation of Revenue
Concentration risk, percentage			5.00%	5.00%

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION- CONDENSED COMBINED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 777,919	$ 1,018,883
Restricted cash and cash equivalents	167,702	145,358
Accounts receivable, net	386,919	493,988
Inventories, net	246,017	274,499
Prepaid expenses and other current assets	82,163	136,923
Income taxes receivable	7,781	7,117
Total current assets	1,668,501	2,076,768
PROPERTY, PLANT AND EQUIPMENT, NET	476,240	438,314
OPERATING LEASE ASSETS	23,033	28,070
GOODWILL	1,352,011	1,352,011	$ 3,197,011
OTHER INTANGIBLES, NET	1,477,883	1,732,935
OTHER ASSETS	139,626	129,839
TOTAL ASSETS	5,137,294	5,757,937
CURRENT LIABILITIES:
Accounts payable and accrued expenses	537,736	687,183
Current portion of operating lease liabilities	956	903
Income taxes payable	102	1,541
Total current liabilities	538,794	689,627
DEFERRED INCOME TAXES	16,248	13,825
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	4,132	5,129
OTHER LIABILITIES	79,812	42,746
LIABILITIES SUBJECT TO COMPROMISE	11,095,868	9,168,782
Total shareholders’ deficit	(6,597,560)	(4,162,172)	$ (1,243,986)	$ (647,939)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	5,137,294	5,757,937
Debtor-in-Possession
CURRENT ASSETS:
Cash and cash equivalents	735,927	991,901
Restricted cash and cash equivalents	81,806	59,358
Accounts receivable, net	375,613	478,889
Inventories, net	219,230	241,349
Prepaid expenses and other current assets	68,245	111,807
Income taxes receivable	7,715	7,038
Receivables from Non-Debtor Affiliates	100,829	94,608
Total current assets	1,589,365	1,984,950
PROPERTY, PLANT AND EQUIPMENT, NET	250,286	233,114
OPERATING LEASE ASSETS	19,002	23,200
GOODWILL	1,352,011	1,352,011
OTHER INTANGIBLES, NET	1,477,883	1,732,935
INVESTMENTS IN NON-DEBTOR AFFILIATES	48,253	50,001
RECEIVABLES FROM NON-DEBTOR AFFILIATES	258,445	240,002
OTHER ASSETS	134,224	126,494
TOTAL ASSETS	5,129,469	5,742,707
CURRENT LIABILITIES:
Accounts payable and accrued expenses	510,697	654,414
Current portion of operating lease liabilities	248	230
Income taxes payable	181	10
Payables to Non-Debtor Affiliates	14,419	20,162
Total current liabilities	525,545	674,816
DEFERRED INCOME TAXES	16,248	13,479
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	750	994
OTHER LIABILITIES	74,223	37,367
LIABILITIES SUBJECT TO COMPROMISE	11,095,868	9,168,782
Total shareholders’ deficit	(6,583,165)	(4,152,731)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	$ 5,129,469	$ 5,742,707

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION-CONDENSED COMBINED STATEMENTS OF COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (2,449,807)	$ (2,923,105)	$ (613,245)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	3,179	(10,496)	1,308
Total other comprehensive income (loss)	3,179	(10,496)	1,308
COMPREHENSIVE LOSS	(2,446,628)	(2,933,601)	$ (611,937)
Debtor-in-Possession
Statement of Comprehensive Income [Abstract]
NET LOSS	(2,444,854)	(2,916,665)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	3,179	(10,496)
Total other comprehensive income (loss)	3,179	(10,496)
COMPREHENSIVE LOSS	$ (2,441,675)	$ (2,927,161)

- Definition

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

+ References

+ Details

RESTRUCTURING - Narrative (Details) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
RESTRUCTURING - Narrative (Details) $ in Thousands	Apr. 30, 2022 position	Nov. 30, 2020 position	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve
Asset impairments				$ 503	$ 2,142,746	$ 414,977
2020 Restructuring Initiative
Restructuring Cost and Reserve
Restructuring and related cost, expected number of positions eliminated \| position		300
Restructuring charges					7,278	68,469
Asset impairments					0	42,155
2020 Restructuring Initiative \| Disposal Group, Disposed Of By Sale, Not Discontinued Operations \| Manufacturing Facilities
Restructuring Cost and Reserve
Asset impairments			$ 8,400
2020 Restructuring Initiative \| Accelerated depreciation
Restructuring Cost and Reserve
Restructuring and related cost, cost incurred to date			51,000		51,000
2020 Restructuring Initiative \| Asset impairments
Restructuring Cost and Reserve
Restructuring and related cost, cost incurred to date			49,500		49,500
2020 Restructuring Initiative \| Inventory adjustments
Restructuring Cost and Reserve
Restructuring and related cost, cost incurred to date			11,600		11,600
2020 Restructuring Initiative \| Employee Separation, Continuity and Other Benefit-Related Costs
Restructuring Cost and Reserve
Restructuring charges				(198)	1,216	(7,384)
Restructuring and related cost, cost incurred to date			53,900		53,900
2020 Restructuring Initiative \| Certain Other Restructuring Costs
Restructuring Cost and Reserve
Restructuring charges				0	796	3,711
Restructuring and related cost, cost incurred to date			3,500		3,500
2020 Restructuring Initiative \| Operating Segments \| Generic Pharmaceuticals
Restructuring Cost and Reserve
Restructuring charges					5,400	$ 49,900
Restructuring and related cost, cost incurred to date			134,300		134,300
2022 Restructuring Initiative
Restructuring Cost and Reserve
Restructuring and related cost, expected number of positions eliminated \| position	175
Restructuring charges					252,119
Asset impairments					180,248
2022 Restructuring Initiative \| Inventory adjustments
Restructuring Cost and Reserve
Restructuring and related cost, cost incurred to date			34,900		34,900
2022 Restructuring Initiative \| Employee Separation, Continuity and Other Benefit-Related Costs
Restructuring Cost and Reserve
Restructuring charges				(248)	28,345
Restructuring and related cost, cost incurred to date			28,300		28,300
2022 Restructuring Initiative \| Certain Other Restructuring Costs
Restructuring Cost and Reserve
Restructuring charges				$ 0	1,102
Restructuring and related cost, cost incurred to date			8,700		8,700
2022 Restructuring Initiative \| Inidentifiable Intangible assets
Restructuring Cost and Reserve
Restructuring and related cost, cost incurred to date			180,200		180,200
2022 Restructuring Initiative \| Operating Segments \| Generic Pharmaceuticals
Restructuring Cost and Reserve
Restructuring charges					238,600
2022 Restructuring Initiative \| Operating Segments \| Branded Pharmaceuticals
Restructuring Cost and Reserve
Restructuring and related cost, cost incurred to date			$ 238,600		$ 238,600

SHARE-BASED COMPENSATION - Allocation of Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 11,240	$ 18,214	$ 30,046
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	10,593	16,019	23,400
Research and development
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	107	1,059	1,378
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 540	$ 1,136	$ 5,268

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The following table presents information about the Company’s total indebtedness at December 31, 2023 and December 31, 2022 (dollars in thousands):


	December 31, 2023						December 31, 2022
	Effective Interest Rate (1)		Principal Amount (2)		Carrying Amount (2)		Effective Interest Rate (1)		Principal Amount (2)		Carrying Amount (2)


5.375% Senior Notes due 2023	5.38	%	$	6,127	$	6,127	5.38	%	$	6,127	$	6,127
6.00% Senior Notes due 2023	6.00	%	56,436		56,436		6.00	%	56,436		56,436
5.875% Senior Secured Notes due 2024	6.88	%	300,000		300,000		6.88	%	300,000		286,375
6.00% Senior Notes due 2025	6.00	%	21,578		21,578		6.00	%	21,578		21,578
7.50% Senior Secured Notes due 2027	8.50	%	2,015,479		2,015,479		8.50	%	2,015,479		1,894,774
9.50% Senior Secured Second Lien Notes due 2027	9.50	%	940,590		940,590		9.50	%	940,590		940,590
6.00% Senior Notes due 2028	6.00	%	1,260,416		1,260,416		6.00	%	1,260,416		1,260,416
6.125% Senior Secured Notes due 2029	7.13	%	1,295,000		1,295,000		7.13	%	1,295,000		1,230,799
Term Loan Facility	14.50	%	1,975,000		1,975,000		13.50	%	1,975,000		1,871,894
Revolving Credit Facility	12.00	%	277,200		277,200		11.00	%	277,200		265,728

Total (3)			$	8,147,826	$	8,147,826			$	8,147,826	$	7,834,717

__________

Schedule of Maturities of Long-Term Debt

The following table presents, as of December 31, 2023, for each of the five fiscal years subsequent to December 31, 2023, the stated maturities on our long-term debt that would have been applicable if not for such acceleration (in thousands):


	Maturities (1)
2024 (2)	$	394,600
2025	$	41,578
2026 (2)	$	222,600
2027	$	2,976,069
2028	$	3,125,416

__________

(2)Based on the Company’s borrowings under the Revolving Credit Facility that were outstanding at December 31, 2023, $74.6 million would have matured in 2024, with the remainder maturing in 2026.

- 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

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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021 are as follows (in thousands):


	2023		2022		2021
U.S.	$	(1,609,064)	$	(2,429,315)	$	4,792,852
International	(782,860)		(458,787)		(5,339,455)
Total loss from continuing operations before income tax	$	(2,391,924)	$	(2,888,102)	$	(546,603)

Income tax from continuing operations consists of the following for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023		2022		2021
Current:
U.S. Federal	$	44,304	$	21,057	$	13,649
U.S. State	2,900		1,731		1,491
International	3,956		6,031		10,495
Total current income tax	$	51,160	$	28,819	$	25,635
Deferred:
U.S. Federal	$	5,126	$	(622)	$	118
U.S. State	451		1,065		(564)
International	(875)		(7,746)		(2,711)
Total deferred income tax	$	4,702	$	(7,303)	$	(3,157)


Total income tax	$	55,862	$	21,516	$	22,478

Tax Rate


	2023		2022		2021
Notional U.S. federal income tax provision at the statutory rate	$	(502,304)	$	(606,502)	$	(114,787)
State income tax, net of federal benefit	3,283		(9,517)		6,750

Uncertain tax positions	32,191		21,930		42,415
Residual tax on non-U.S. net earnings	(610,200)		(32,257)		(181,739)


Non-deductible goodwill impairment	—		385,459		76,230
Change in valuation allowance	6,449,891		306,497		495,565












Non-deductible expenses	109,629		47,221		25,679
Executive compensation limitation	7,254		5,580		6,215
Equity based compensation	4,522		3,247		2,695
Financing activities (1)	(3,035,598)		73,629		(287,012)
Investment activities (2)	(2,681,806)		(178,018)		(68,943)
Non-deductible legal settlement	279,216		—		14,112
Other	(216)		4,247		5,298
Income tax	$	55,862	$	21,516	$	22,478

__________

The change in income tax expense in 2023 compared to 2022, and the change in 2022 income tax expense compared to 2021, primarily relates to an increase in accrued interest on uncertain tax positions and changes in the geographic mix of pre-tax earnings.

Deferred Tax Assets and Liabilities


	December 31, 2023		December 31, 2022
Deferred tax assets:
Accrued expenses and reserves	$	274,424	$	220,415

Deferred interest deduction	492,394		421,552
Fixed assets, intangible assets and deferred amortization	549,715		560,257
Loss on capital assets	4,755		23,511
Net operating loss carryforward	15,478,840		9,214,688
Other	59,145		49,943
Research and development and other tax credit carryforwards	7,402		7,777


Total gross deferred income tax assets	$	16,866,675	$	10,498,143
Deferred tax liabilities:

Other	$	(9,148)	$	(3,156)
Investments	(136)		(107)
Intercompany notes	—		(72,286)

Total gross deferred income tax liabilities	$	(9,284)	$	(75,549)
Valuation allowance	(16,873,639)		(10,436,419)
Net deferred income tax liability	$	(16,248)	$	(13,825)


Jurisdiction	Amount		Begin to Expire
Ireland	$	85,816	Indefinite
Luxembourg	$	15,201,302	2034


U.S.:
Federal-ordinary losses	$	21,132	2037
Federal-capital losses	$	4,010	2024
Federal-tax credits	$	9,768	2024
State-ordinary losses	$	210,249	2024
State-capital losses	$	392	2024
State-tax credits	$	3,256	2037

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, 2023 and 2022, the total valuation allowance was $16,873.6 million and $10,436.4 million, respectively. During the years ended December 31, 2023 and 2022, the Company increased its valuation allowance by $6.4 billion and $267.1 million, respectively, which was primarily driven by taxable losses in Luxembourg related to investments and financing activities in consolidated subsidiaries. As previously disclosed, the Company concluded that there was substantial doubt about its ability to continue as a going concern within one year after the date of issuance of the Condensed Consolidated Financial Statements included in the Second-Quarter 2022 Form 10-Q. The Company considered this in determining that certain net deferred tax assets were no longer more likely than not realizable. As a result, an immaterial increase in valuation allowance on the Company’s net deferred tax assets was recorded in various jurisdictions during the second quarter of 2022.

As of December 31, 2023, the Company had the following significant valuation allowances (in thousands):


Jurisdiction	December 31, 2023

Ireland	$	330,465
Luxembourg	$	15,201,530



U.S.	$	1,328,840

The Company maintains a full valuation allowance against the net deferred tax assets in the U.S., Luxembourg, Ireland and certain other foreign tax jurisdictions as of December 31, 2023. It is possible that in the future there may be sufficient positive evidence to release a portion or all of the valuation allowance. Release of these valuation allowances would result in a benefit to income tax expense for the period the release is recorded, which could have a material impact on net earnings. The timing and amount of the potential valuation allowance release are subject to significant management judgment and prospective earnings.

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. As a result of the bankruptcy filing, we have reassessed our historical indefinite reinvestment assertion with respect to undistributed earnings. Based on that reassessment, we have determined that the undistributed earnings of certain subsidiaries will continue to be indefinitely reinvested. Those entities for which we will continue to assert indefinite reinvestment have an accumulated earnings deficit as of December 31, 2023. No additional provision has been made for Irish and non-Irish income taxes on those undistributed earnings that we are not asserting indefinite reinvestment as no tax is expected to be incurred with respect to those earnings. 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, 2023, the Company had total UTPs, including accrued interest and penalties, of $680.2 million. If recognized in future years, $295.9 million of such amounts would impact the income tax provision and effective tax rate. As of December 31, 2022, the Company had total UTPs, including accrued interest and penalties, of $646.4 million. If recognized in future years, $251.4 million of such amounts would have impacted the income tax provision and effective tax rate. The following table summarizes the activity related to UTPs during the years ended December 31, 2023, 2022 and 2021 (in thousands):


	Unrecognized Tax Positions Federal, State and Foreign Tax
UTP Balance at December 31, 2020	$	529,775
Gross additions for current year positions	36,662

Gross reductions for prior period positions	(702)
Gross additions for prior period positions	1,203
Decrease due to lapse of statute of limitations	(475)

Currency translation adjustment	(24)
UTP Balance at December 31, 2021	$	566,439
Gross additions for current year positions	20,061


Decrease due to lapse of statute of limitations	(4,451)


Currency translation adjustment	(2,419)
UTP Balance at December 31, 2022	$	579,630
Gross additions for current year positions	12,457


Decrease due to lapse of statute of limitations	(186)

Currency translation adjustment	(199)
UTP Balance at December 31, 2023	$	591,702
Accrued interest and penalties	88,463
Total UTP balance including accrued interest and penalties	$	680,165

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 $88.5 million and $66.7 million as of December 31, 2023 and 2022, respectively.

During the year ended December 31, 2023, the Company recognized net expense of $43.8 million associated with UTPs, primarily related to interest. During the year ended December 31, 2022, the Company recognized net expense of $16.2 million associated with UTPs, primarily related to interest and penalties. During the year ended December 31, 2021, the Company recognized net expense of $10.6 million associated with UTPs, primarily related to interest and penalties. At December 31, 2023 and 2022, the Company’s UTP liability is included in the Consolidated Balance Sheets within Liabilities subject to compromise, Other liabilities and, where 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.

As a result of the U.S. Government Economic Settlement, it is expected that the amount of UTPs will change during the next 12 months, which is expected to have a material impact on our results of operations and 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 U.S. income tax 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 Technical Advice Memorandum (TAM) regarding the portion of our 2015 NOL that we believe 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. In April 2021, we received draft NOPAs from the IRS consistent with the TAM. We continue to disagree with the IRS’s position and the draft NOPAs received and, if necessary, intend to contest any additional tax determined to be owed with respect to the NOPAs. However, if we were unsuccessful in contesting the IRS’s position, we have preliminarily estimated that we would have additional cash taxes payable to the IRS of between $70 million and $250 million excluding interest. We continue to discuss this position with the IRS and the actual amount that may be owed to the IRS if we are unsuccessful may be different than our preliminary estimate. 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, 2023, we may be subject to examination in the following major tax jurisdictions:


Jurisdiction						Open Years
Canada						2016 through 2023
India						2012 through 2023
Ireland						2016 through 2023
Luxembourg						2015 through 2023
U.S. - federal, state and local						2006 through 2023

Bankruptcy-Related Developments

In connection with our ongoing bankruptcy proceedings, the IRS has filed multiple proofs of claim against several of the Debtors. The total amount of the asserted claims filed by the IRS, which relate to tax years ended 2006 through 2014, 2016 through 2018 and 2020 through 2021, is approximately $18.7 billion. The IRS amended its proof of claims on May 30, 2023 and increased the total amount of approximately $20 billion. A number of the amended claims are in respect of the same proposed tax liability but are filed against multiple subsidiary members of our U.S. consolidated tax groups. After excluding the repetitive claims filed to different members of our U.S. consolidated tax groups, the net claims are approximately $4 billion (the IRS’s initial net claim amount was approximately $2.6 billion). In general, the claims primarily relate to the IRS’s challenges of our historic tax positions discussed above for certain intercompany arrangements, including the level of profit earned by our U.S. subsidiaries pursuant to such arrangements, and a product liability loss carryback claim. We disagree with the IRS’s amended claims and, if necessary, intend to contest any additional tax determined to be owed with respect to the claims.

The IRS’s claims and uncertain tax positions related to historical federal income tax positions not specifically challenged by the IRS, as well as certain federal income tax-related claims anticipated to arise during the Chapter 11 Cases and as a result of the consummation of the Plan which is subject to Bankruptcy Court approval, will be resolved in accordance with the U.S. Government Economic Settlement. The claims brought against the Debtors by the IRS will be deemed to be, in part, an allowed, unsubordinated priority claim and, in part, an allowed, unsubordinated general unsecured claim, each in such amount equal to the settlement amounts to be received by the IRS as allocated by the U.S. Government.

- 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

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-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 13
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+ Details

LICENSE, COLLABORATION AND ASSET ACQUISITION AGREEMENTS	12 Months Ended
LICENSE, COLLABORATION AND ASSET ACQUISITION AGREEMENTS	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LICENSE, COLLABORATION AND ASSET ACQUISITION AGREEMENTS	NOTE 12. LICENSE, COLLABORATION AND ASSET ACQUISITION AGREEMENTS We have entered into certain license, collaboration and asset acquisition agreements with third parties. Generally, these agreements require us to share in the costs of developing, manufacturing, commercializing and/or selling product candidates and/or products with third parties, who in turn grant us marketing rights for such product candidates and/or products. Under these agreements we are generally required to: (i) make upfront payments and/or other payments upon successful completion of regulatory, sales and/or other milestones and/or (ii) pay royalties on sales and/or other costs arising from these agreements. We have also, from time to time, entered into agreements to directly acquire certain assets from third parties. Nevakar Agreements In May 2022, we announced that we had entered into an agreement to acquire six development-stage RTU injectable product candidates from Nevakar Injectables, Inc., a subsidiary of Nevakar, Inc., for an upfront cash payment of $35.0 million (the 2022 Nevakar Agreement). The acquisition closed during the second quarter of 2022. The acquired set of assets and activities did not meet the definition of a business. As a result, we accounted for the transaction as an asset acquisition. Upon closing, the upfront payment was recorded as Acquired in-process research and development in the Consolidated Statements of Operations. The product candidates, which relate to our Sterile Injectables segment, are in various stages of development. The first commercial launch is expected in 2025; however, there can be no assurance this will occur within this timeframe or at all. With this acquisition, the Company will control all remaining development, regulatory, manufacturing and commercialization activities for the acquired product candidates. In August 2022, within the ongoing bankruptcy proceedings, the Company filed an adversary proceeding (the Nevakar Litigation) against Nevakar, Inc. and Nevakar Injectables Inc. (collectively, Nevakar) to enforce: (i) a 2018 development, license and commercialization agreement (the 2018 Nevakar Agreement) and (ii) the 2022 Nevakar Agreement. In September 2022, Nevakar filed counterclaims against the Company. In December 2022, the Company and Nevakar reached a settlement with respect to the Nevakar Litigation (the Nevakar Settlement) subject to Bankruptcy Court approval. The Nevakar Settlement provided for the amendment (the Nevakar Amendment) of the 2018 Nevakar Agreement to revoke the Company’s license of two products covered by the 2018 Nevakar Agreement, modify the Company’s license to the remaining three products covered by the 2018 Nevakar Agreement to reduce the royalty owed to Nevakar, terminate any obligations of the Company to make payments to Nevakar upon achievement of contingent milestones and eliminate Nevakar’s ability to terminate the remaining licenses for the Company’s breach or material breach. The Nevakar Settlement also provided that the Company and Nevakar would agree to a mutual release of certain claims under both the 2018 Nevakar Agreement and the 2022 Nevakar Agreement. The Nevakar Settlement was approved by the Bankruptcy Court in January 2023. The Nevakar Settlement had no effect on our Consolidated Financial Statements in 2022. In the first quarter of 2023, the Company concluded that the Nevakar Amendment met the definition of a nonmonetary exchange. The Nevakar Amendment did not result in the sale or acquisition of additional rights by the Company. The Company determined that the estimated value of the product rights revoked is approximately equal to the estimated reduction in the future royalty costs associated with the three products retained. There was no carrying value associated with the revoked product rights as the associated payments to Nevakar were previously expensed as Acquired in-process research and development. Based on these factors, the Nevakar Amendment had no effect on our Consolidated Financial Statements for the year ended December 31, 2023. TLC Agreement In June 2022, we announced that we had entered into an agreement with TLC to commercialize TLC599 (the TLC Agreement). We are accounting for the agreement as an asset acquisition. During the second quarter of 2022, we made an upfront payment of $30.0 million to TLC and recorded a corresponding charge to Acquired in-process research and development in the Consolidated Statements of Operations. On October 13, 2023, we commenced an adversary proceeding against TLC in the Bankruptcy Court. Due to the commercially sensitive nature of the dispute, the complaint initiating such proceeding has been filed under seal and is not publicly available. In February 2024, the parties to the adversary proceeding have informed the Bankruptcy Court that they are finalizing a settlement and expect to file a motion related to that settlement in the near future. As of the date of this report no motion has been filed.

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Charges related to rejection and cancellation of equity awards	$ 9,200,000
Unrecognized compensation cost		$ 0
Options exercised intrinsic value			$ 100,000
Tax benefit from exercise of stock options			$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Dividend yield		0.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Restricted and performance stock units, weighted average grant date fair value (in dollars per share)			$ 7.39	$ 3.21
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Service period		3 years
PSU award percentage using free cash flow performance metric		50.00%
Minimum \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Expiration period		3 years
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		3 years
Minimum \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Award adjustment rate		0.00%
Maximum \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Expiration period		4 years
Maximum \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Award adjustment rate		200.00%
2015 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares available for grant (in shares)		21,300,000
Plans Other Than 2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares available for grant (in shares)		0

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Deferred Income

The following table summarizes certain information about the activity under the U.S. Government Cooperative Agreement at December 31, 2023 and December 31, 2022 (dollars in thousands):


	Year Ended December 31,
	2023		2022
Cumulative grant proceeds received to reimburse asset construction	$	58,032	$	18,635
Capex reimbursement receivable, included in Accounts receivable, net	5,514		7,856
Cumulative amounts applied against assets placed in service (1)	(18,922)		—
Total deferred grant income (2)	$	44,624	$	26,491

Assets under construction, gross	$	58,359	$	34,950
Assets placed in service, gross	24,898		—
Endo's portion of costs included in Property, plant and equipment, net	(19,711)		(8,459)
Cumulative amounts applied against assets placed in service (1)	(18,922)		—
Total deferred grant income (2)	$	44,624	$	26,491

__________

Schedule of Changes in Qualified Settlement Funds Accounts and Product Liability Balance

The following table presents the changes in the mesh-related QSFs and liability accrual balances during the year ended December 31, 2023 (in thousands):


	Mesh Qualified Settlement Funds		Mesh Liability Accrual (1)
Balance as of December 31, 2022	$	50,339	$	222,972
Additional charges	—		495

Cash distributions to settle disputes from Qualified Settlement Funds	(2,279)		(2,279)

Other (2)	1,404		1,404
Balance as of December 31, 2023	$	49,464	$	222,592

__________

(1)As of December 31, 2023 and December 31, 2022, the entire accrual is classified as Liabilities subject to compromise in the Consolidated Balance Sheets.

OTHER INCOME, NET (Tables)

12 Months Ended

Dec. 31, 2023

Component of Operating Income [Abstract]

Schedule of Components of Other income, Net

The components of Other income, net for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):



	2023		2022		2021
Net gain on sale of business and other assets (1)	$	(10,392)	$	(26,183)	$	(4,516)
Foreign currency loss (gain), net (2)	1,779		(2,087)		1,253
Net (gain) loss from our investments in the equity of other companies (3)	(199)		378		453
Other miscellaneous, net (4)	(876)		(6,162)		(16,964)
Other income, net	$	(9,688)	$	(34,054)	$	(19,774)

__________

(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 2021 include gains of $15.5 million associated with the termination of certain contracts.

NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

NET LOSS PER SHARE

NOTE 22. NET LOSS PER SHARE

The following is a reconciliation of the numerator and denominator of basic and diluted net loss per share for the years ended December 31, 2023, 2022 and 2021 (in thousands):



	2023		2022		2021
Numerator:
Loss from continuing operations	$	(2,447,786)	$	(2,909,618)	$	(569,081)


(Loss) income from discontinued operations, net of tax	(2,021)		(13,487)		(44,164)
Net loss	$	(2,449,807)	$	(2,923,105)	$	(613,245)
Denominator:
For basic per share data—weighted average shares	235,219		234,840		232,785
Dilutive effect of ordinary share equivalents	—		—		—

For diluted per share data—weighted average shares	235,219		234,840		232,785

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, if any, is measured using the treasury stock method.



	2022	2021
Stock options	5,453	6,584
Stock awards	5,789	9,256

On March 3, 2023, in connection with the Company’s ongoing bankruptcy proceedings, the Company took action to reject all outstanding award agreements associated with stock options and stock awards.

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories consisted of the following at December 31, 2023 and December 31, 2022 (in thousands):


	December 31, 2023		December 31, 2022
Raw materials (1)	$	103,336	$	105,975
Work-in-process (1)	29,827		43,057
Finished goods (1)	112,854		125,467
Total	$	246,017	$	274,499

__________

(1)The components of inventory shown in the table above are net of allowances.

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2023

Reorganizations [Abstract]

CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION

NOTE 2. BANKRUPTCY PROCEEDINGS

Chapter 11 Filing

Events of Default

Restructuring Support Agreement and Marketing Process

The Chapter 11 Proceedings

Cash Collateral

Claims Reconciliation Process

Resolutions in the Chapter 11 Cases

Chapter 11 Plan of Reorganization

In addition to the previously reached settlements, the Plan also incorporates the recently announced economic settlement in principle with the DOJ, described above.

Bankruptcy Accounting


	December 31, 2023		December 31, 2022
Accounts payable	$	32,281	$	30,317
Accrued interest	160,617		160,617
Debt	8,147,826		7,834,717
Litigation accruals	2,431,455		820,805
Uncertain tax positions	259,611		235,176
Other (1)	64,078		87,150
Total	$	11,095,868	$	9,168,782

__________



	2023		2022
Professional fees	$	264,093	$	113,781
Debt valuation adjustments	905,868		89,197

Total	$	1,169,961	$	202,978

Nasdaq Delisting

NOTE 23. CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION





CONDENSED COMBINED BALANCE SHEETS
(Dollars in thousands)

	December 31, 2023		December 31, 2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	735,927	$	991,901
Restricted cash and cash equivalents	81,806		59,358
Accounts receivable, net	375,613		478,889
Inventories, net	219,230		241,349
Prepaid expenses and other current assets	68,245		111,807
Income taxes receivable	7,715		7,038

Receivables from Non-Debtor Affiliates	100,829		94,608
Total current assets	$	1,589,365	$	1,984,950

PROPERTY, PLANT AND EQUIPMENT, NET	250,286		233,114
OPERATING LEASE ASSETS	19,002		23,200
GOODWILL	1,352,011		1,352,011
OTHER INTANGIBLES, NET	1,477,883		1,732,935

INVESTMENTS IN NON-DEBTOR AFFILIATES	48,253		50,001
RECEIVABLES FROM NON-DEBTOR AFFILIATES	258,445		240,002
OTHER ASSETS	134,224		126,494
TOTAL ASSETS	$	5,129,469	$	5,742,707
LIABILITIES AND DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses	$	510,697	$	654,414

Current portion of operating lease liabilities	248		230

Income taxes payable	181		10

Payables to Non-Debtor Affiliates	14,419		20,162
Total current liabilities	$	525,545	$	674,816
DEFERRED INCOME TAXES	16,248		13,479


OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	750		994

OTHER LIABILITIES	74,223		37,367
LIABILITIES SUBJECT TO COMPROMISE	11,095,868		9,168,782
TOTAL DEFICIT	(6,583,165)		(4,152,731)
TOTAL LIABILITIES AND DEFICIT	$	5,129,469	$	5,742,707





CONDENSED COMBINED STATEMENTS OF OPERATIONS
(Dollars in thousands)


	2023		2022
TOTAL REVENUES, NET	$	2,011,565	$	2,321,426
COSTS AND EXPENSES:
Cost of revenues	954,349		1,106,855
Selling, general and administrative	558,183		764,768
Research and development	124,987		137,851
Acquired in-process research and development	—		68,700
Litigation-related and other contingencies, net	1,611,090		478,722
Asset impairment charges	503		2,137,107
Acquisition-related and integration items, net	1,972		408

Interest (income) expense, net	(11,660)		345,593

Reorganization items, net	1,169,961		202,978
Other income, net	(9,330)		(13,409)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	$	(2,388,490)	$	(2,908,147)
INCOME TAX EXPENSE	52,521		17,721
LOSS FROM CONTINUING OPERATIONS	$	(2,441,011)	$	(2,925,868)
DISCONTINUED OPERATIONS, NET OF TAX	(2,021)		(13,468)
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES	$	(2,443,032)	$	(2,939,336)
EQUITY IN LOSS OF NON-DEBTOR AFFILIATES, NET OF TAX	(1,822)		22,671
NET LOSS	$	(2,444,854)	$	(2,916,665)





CONDENSED COMBINED STATEMENTS OF COMPREHENSIVE LOSS
(Dollars in thousands)


	2023		2022
NET LOSS	$	(2,444,854)	$	(2,916,665)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	$	3,179	$	(10,496)
Total other comprehensive income (loss)	$	3,179	$	(10,496)
COMPREHENSIVE LOSS	$	(2,441,675)	$	(2,927,161)





CONDENSED COMBINED STATEMENTS OF CASH FLOWS
(Dollars in thousands)


	2023		2022
OPERATING ACTIVITIES:
Net cash provided by operating activities (1)	$	416,541	$	209,523
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(67,149)		(43,743)
Capitalized interest payments	—		(3,140)
Proceeds from the U.S. Government Cooperative Agreement	39,397		18,635

Acquisitions, including in-process research and development, net of cash and restricted cash acquired	—		(90,320)




Proceeds from sale of business and other assets	5,134		41,400
Proceeds from loans made to Non-Debtor Affiliates	1,572		2,355
Disbursements for loans made to Non-Debtor Affiliates	(25,243)		(51,486)

Net cash used in investing activities	$	(46,289)	$	(126,299)
FINANCING ACTIVITIES:


Repayments of notes	—		(180,342)
Repayments of term loans	—		(10,000)


Adequate protection payments	(592,759)		(313,109)
Repayments of other indebtedness	(6,733)		(6,062)

Payments for contingent consideration	(5,136)		(2,462)
Payments of tax withholding for restricted shares	—		(1,898)


Net cash used in financing activities	$	(604,628)	$	(513,873)
Effect of foreign exchange rate	850		(1,790)

NET DECREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	$	(233,526)	$	(432,439)
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,136,259		1,568,698
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	$	902,733	$	1,136,259

__________

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021 (in thousands).


	2023		2022		2021
Selling, general and administrative expenses	$	10,593	$	16,019	$	23,400
Research and development expenses	107		1,059		1,378
Cost of revenues	540		1,136		5,268

Total share-based compensation expense	$	11,240	$	18,214	$	30,046

Schedule of Activity Under Stock Incentive Plans

A summary of the activity for each of the years ended December 31, 2023, 2022 and 2021 is presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of December 31, 2020	6,916,586	$	18.11

Exercised	(82,331)	$	7.55
Forfeited	(11,887)	$	13.19
Expired	(438,454)	$	40.76
Outstanding as of December 31, 2021	6,383,914	$	16.70



Expired	(1,304,602)	$	20.04
Outstanding as of December 31, 2022	5,079,312	$	15.84


Forfeited (1)	(2,854,056)	$	14.73
Expired	(2,225,256)	$	17.27
Outstanding as of December 31, 2023 (1)	—	$	—	—	$	—
Vested and expected to vest as of December 31, 2023 (1)	—	$	—	—	$	—
Exercisable as of December 31, 2023 (1)	—	$	—	—	$	—

__________

(1)In March 2023, the Bankruptcy Court entered orders authorizing the Company to reject outstanding stock option agreements, restricted stock award agreements and performance award agreements.

Schedule of Non-vested RSUs and PSUs

A summary of our non-vested RSUs and PSUs for the years ended December 31, 2023, 2022 and 2021 is presented below:


	Number of Shares	Aggregate Intrinsic Value
Non-vested as of December 31, 2020	10,340,279
Granted	4,483,385

Forfeited	(1,302,292)
Vested	(5,380,262)
Non-vested as of December 31, 2021	8,141,110
Granted	280,373

Forfeited	(1,116,960)
Vested	(2,324,696)
Non-vested as of December 31, 2022	4,979,827


Forfeited (1)	(4,960,249)
Vested	(19,578)
Non-vested as of December 31, 2023 (1)	—	$	—
Vested and expected to vest as of December 31, 2023 (1)	—	$	—

__________

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Restricted Cash and Cash Equivalents

The following table presents current and noncurrent restricted cash and cash equivalent balances at December 31, 2023 and December 31, 2022 (in thousands):


	Balance Sheet Line Items	December 31, 2023		December 31, 2022
Restricted cash and cash equivalents—current (1)	Restricted cash and cash equivalents	$	167,702	$	145,358
Restricted cash and cash equivalents—noncurrent (2)	Other assets	85,000		85,000
Total restricted cash and cash equivalents		$	252,702	$	230,358

__________

Schedule of 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, 2023 and December 31, 2022 were as follows (in thousands):


	Fair Value Measurements at December 31, 2023 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds (1)	$	7,123	$	—	$	—	$	7,123
Liabilities:



Acquisition-related contingent consideration (2)	$	—	$	—	$	12,447	$	12,447


	Fair Value Measurements at December 31, 2022 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds (1)	$	12,226	$	—	$	—	$	12,226
Liabilities:



Acquisition-related contingent consideration (2)	$	—	$	—	$	16,571	$	16,571

__________

Schedule of Changes to Liability for Acquisition-Related Contingent Consideration



	2023		2022
Beginning of period	$	16,571	$	20,076
Amounts settled	(6,177)		(3,127)
Changes in fair value recorded in earnings	1,972		408
Effect of currency translation	81		(786)
End of period	$	12,447	$	16,571

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the year ended December 31, 2023 by acquisition (in thousands):


	Balance as of December 31, 2022 (1)		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2023 (1)
Auxilium acquisition	$	10,618	$	1,041	$	(2,165)	$	9,494
Lehigh Valley Technologies, Inc. acquisitions	2,300		(91)		(1,209)		1,000

Other	3,653		1,022		(2,722)		1,953
Total	$	16,571	$	1,972	$	(6,096)	$	12,447

__________

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during year ended December 31, 2022 by acquisition (in thousands):


	Balance as of December 31, 2021		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2022 (1)
Auxilium acquisition	$	9,038	$	2,116	$	(536)	$	10,618
Lehigh Valley Technologies, Inc. acquisitions	3,600		(635)		(665)		2,300

Other	7,438		(1,073)		(2,712)		3,653
Total	$	20,076	$	408	$	(3,913)	$	16,571

__________

Schedule of Nonrecurring Fair Value Measurements

The Company’s financial assets and liabilities measured at fair value on a nonrecurring basis during the year ended December 31, 2022 were as follows (in thousands):


	Fair Value Measurements during the Year Ended December 31, 2022 (1) using:						Total Expense for the Year Ended December 31, 2022
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs

Intangible assets, excluding goodwill (2)(3)	—		—		67,082		(288,701)
Certain property, plant and equipment	—		—		—		(9,045)

Total	$	—	$	—	$	67,082	$	(297,746)

__________

(2)These fair value measurements were determined using risk-adjusted discount rates ranging from 9.5% to 12.0% (weighted average rate of approximately 11.8%, weighted based on relative fair value).

DEBT - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2021
Debt Instrument
Fair value of long term debt	$ 4,100.0	$ 4,900.0
Term Loan Facility
Debt Instrument
Long-term debt, gross	$ 30.0
5.875% Senior Secured Notes due 2024
Debt Instrument
Interest rate (as a percent)	5.875%
7.50% Senior Secured Notes due 2027
Debt Instrument
Interest rate (as a percent)	7.50%
6.125% Senior Secured Notes due 2029
Debt Instrument
Interest rate (as a percent)	6.125%		6.125%
9.50% Senior Secured Second Lien Notes due 2027
Debt Instrument
Interest rate (as a percent)	9.50%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

RESTRUCTURING - Pre-tax Net Charges Included in the Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	$ 7,278	$ 68,469
2022 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	252,119
Cost of revenues \| 2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	3,966	6,244
Cost of revenues \| 2022 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	49,078
Selling, general and administrative \| 2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	208	20,788
Selling, general and administrative \| 2022 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	18,692
Research and development \| 2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	3,104	1,367
Research and development \| 2022 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	4,101
Asset impairments \| 2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	0	42,155
Asset impairments \| 2022 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	180,248
Other income, net \| 2020 Restructuring Initiative
Net restructuring charges (charge reversals) related to:
Restructuring charges	$ 0	$ (2,085)

FAIR VALUE MEASUREMENTS - Narrative (Details) - Discount Rate	Dec. 31, 2023
Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Discount rate applied (percent)	0.100
Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Discount rate applied (percent)	0.150
Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Discount rate applied (percent)	0.104

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Notional U.S. federal income tax provision at the statutory rate	$ (502,304)	$ (606,502)	$ (114,787)
State income tax, net of federal benefit	3,283	(9,517)	6,750
Uncertain tax positions	32,191	21,930	42,415
Residual tax on non-U.S. net earnings	(610,200)	(32,257)	(181,739)
Non-deductible goodwill impairment	0	385,459	76,230
Change in valuation allowance	6,449,891	306,497	495,565
Non-deductible expenses	109,629	47,221	25,679
Executive compensation limitation	7,254	5,580	6,215
Equity based compensation	4,522	3,247	2,695
Financing activities	(3,035,598)	73,629	(287,012)
Investment activities	(2,681,806)	(178,018)	(68,943)
Non-deductible legal settlement	279,216	0	14,112
Other	(216)	4,247	5,298
Income tax	$ 55,862	$ 21,516	$ 22,478