CONTRACT ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2023		December 31, 2022		$ Change		% Change
Contract assets (1)	$	4,990	$	8,193	$	(3,203)	(39)	%
Contract liabilities (2)	$	3,675	$	4,099	$	(424)	(10)	%

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(1)At September 30, 2023 and December 31, 2022, approximately $1.4 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 Condensed Consolidated Balance Sheets. The remaining amounts are classified as noncurrent and are included in Other assets.

(2)At both September 30, 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 Condensed Consolidated Balance Sheets. The remaining amounts are classified as noncurrent and are included in Other liabilities. During the nine months ended September 30, 2023, approximately $0.4 million of revenue was recognized that was included in the contract liability balance at December 31, 2022.

Endo International plc 10-Q