0001625297-25-000030 | 10-Q | XBRL Viewer

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Accrued Litigation Settlement Expenses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Accrual recorded	$ 402	$ 464
DOJ-related
Loss Contingencies [Line Items]
Payments for legal settlement	52
Accrual recorded	297	348
Opioid Litigation
Loss Contingencies [Line Items]
Accrual recorded	78	76
Antitrust claims
Loss Contingencies [Line Items]
Payments for legal settlement	5
Accrual recorded	$ 19	$ 24

- 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

Revision of Previously Issued Financial Statements

3 Months Ended

Mar. 31, 2025

Accounting Changes and Error Corrections [Abstract]

Revision of Previously Issued Financial Statements

13. Revision of Previously Issued Financial Statements

During the first quarter of 2025, the Company identified an error in the methodology used to accrue for Indivior's share of the annual U.S. fee imposed on drug manufacturers (the "Branded Fee"). This resulted in an overstatement of the Branded Fee accrual for the periods presented in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

The overstatement of the Branded Fee accrual did not materially impact the Company's previously issued financial statements for any of the prior quarters or the annual periods in which they occurred. However, in accordance with Staff Accounting Bulletin No. 108 of the Securities and Exchange Commission, the Company concluded that correcting the cumulative misstatement in the current period would be material to its results of operations for the quarter ended March 31, 2025. Accordingly, the Company has revised, or will revise in future filings as applicable, its previously issued Consolidated Financial Statements as of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022 to correct this accrual overstatement. Additionally, the Company has revised, or will revise in future filings as applicable, its quarterly financial data for the three months ended March 31, June 30, September 30, and December 31, 2024. A summary of the corrections to the impacted financial statement line items is presented below. An adjustment to reclassify a portion of inventories as other noncurrent assets as of December 31, 2024 and 2023 has also been reflected below.

Consolidated Balance Sheets


	As reported		Adjustment		Revised
	December 31, 2024
Inventories	$	178	$	(10)	$	167
Current tax receivable	34		(1)		33
Total current assets	839		(12)		827
Deferred tax assets	280		(3)		277
Other noncurrent assets	29		10		39
Total assets	$	1,319	$	(4)	$	1,316

Accounts payable and accrued expenses	$	232	$	(16)	$	216

Total current liabilities	939		(16)		924
Total liabilities	1,668		(16)		1,652
Accumulated deficit	(454)		12		(443)
Total shareholders' deficit	(348)		12		(337)
Total liabilities and shareholders' deficit	$	1,319	$	(4)	$	1,316

	December 31, 2023
Inventories	$	135	$	(9)	$	126
Total current assets	1,266		(9)		1,257
Deferred tax assets	288		(2)		286
Other noncurrent assets	28		9		36
Total assets	$	1,760	$	(2)	$	1,758

Accounts payable and accrued expenses	$	204	$	(10)	$	195
Total current liabilities	1,290		(10)		1,281
Total liabilities	1,951		(9)		1,942
Accumulated deficit	(295)		7		(288)
Total shareholders' deficit	(191)		7		(184)
Total liabilities and shareholders' deficit	$	1,760	$	(2)	$	1,758

Consolidated Statements of Operations


	As reported		Adjustment		Revised
	Year ended December 31, 2024
Selling, general and administrative expenses	$	618	$	(6)	$	612
Total operating expenses, net	925		(6)		919
Operating income	32		6		38
Income before income taxes	14		6		20
Income tax expense	(11)		(2)		(13)
Net income	$	2	$	5	$	7

Earnings per Share
Basic	$	0.02	$	0.03	$	0.05
Diluted	$	0.02	$	0.03	$	0.05

	Year ended December 31, 2023
Selling, general and administrative expenses	$	569	$	(4)	$	565
Total operating expenses, net	1,076		(4)		1,072
Operating loss	(156)		4		(152)
Loss before income taxes	(149)		4		(145)
Income tax benefit	20		(1)		19
Net loss	$	(129)	$	3	$	(126)

Loss per Share
Basic	$	(0.94)	$	0.02	$	(0.92)
Diluted	$	(0.94)	$	0.02	$	(0.92)

	Year ended December 31, 2022
Selling, general and administrative expenses	$	469	$	(4)	$	466
Total operating expenses, net	831		(4)		827
Operating loss	(81)		4		(77)
Loss before income taxes	(89)		4		(86)
Income tax benefit	44		(1)		43
Net loss	$	(44)	$	3	$	(42)

Loss per Share
Basic	$	(0.32)	$	0.02	$	(0.30)
Diluted	$	(0.32)	$	0.02	$	(0.30)

The consolidated statements of comprehensive income (loss) and the consolidated statements of shareholders' deficit were also revised to reflect the net income (loss) noted above for the years ended December 31, 2024, 2023 and 2022.

Consolidated Statements of Cash Flows


	As reported		Adjustment		Revised
	December 31, 2024
Net income	$	2	$	5	$	7
Deferred income taxes	6		1		7
Change in operating assets and liabilities:
Inventories	(45)		2		(43)
Other current and noncurrent assets	378		(1)		377
Other current and noncurrent liabilities	14		(6)		8
Net cash provided by operating activities	$	36	$	—	$	36

	December 31, 2023
Net loss	$	(129)	$	3	$	(126)
Deferred income taxes	(65)		1		(64)
Change in operating assets and liabilities:
Inventories	(15)		9		(6)
Other current and noncurrent assets	(410)		(9)		(418)
Other current and noncurrent liabilities	114		(4)		110
Net cash used in operating activities	$	(300)	$	—	$	(300)

	December 31, 2022
Net loss	$	(44)	$	3	$	(42)
Deferred income taxes	(105)		1		(104)
Change in operating assets and liabilities:
Other current and noncurrent liabilities	(97)		(4)		(100)
Net cash used in operating activities	$	(4)	$	—	$	(4)

Revisions to unaudited selected quarterly financial data presented in our Annual Report on Form 10-K for the year ended December 31, 2024 are summarized as follows:


	As reported		Adjustment		Revised
	Three months ended March 31, 2024
Selling, general and administrative expenses	$	145	$	(2)	$	143
Total operating expenses, net	172		(2)		171
Operating income	73		2		75
Income before income taxes	71		2		73
Income tax expense	(11)		—		(11)
Net income	$	60	$	1	$	61

	Three months ended June 30, 2024
Selling, general and administrative expenses	$	153	$	(2)	$	152
Total operating expenses, net	340		(2)		338
Operating loss	(119)		2		(118)
Loss before income taxes	(122)		2		(121)
Income tax benefit	24		—		23
Net loss	$	(98)	$	1	$	(97)

	Three months ended September 30, 2024
Selling, general and administrative expenses	$	144	$	(2)	$	142
Total operating expenses, net	207		(2)		206
Operating income	34		2		35
Income before income taxes	28		2		30
Income tax expense	(8)		—		(8)
Net income	$	21	$	1	$	22

	Three months ended December 31, 2024
Selling, general and administrative expenses	$	177	$	(2)	$	175
Total operating expenses, net	206		(2)		205
Operating income	44		2		46
Income before income taxes	36		2		38
Income tax expense	(16)		—		(17)
Net income	$	20	$	1	$	21

Financial Instruments and Fair Value Measurements	3 Months Ended
Financial Instruments and Fair Value Measurements	Mar. 31, 2025
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	9. Financial Instruments and Fair Value Measurements Financial instruments include cash and cash equivalents, accounts receivable, accounts payable, debt, investments in corporate debt securities and investments in equity securities. The carrying value of these financial instruments, excluding debt instruments and the Company’s investments in corporate debt and equity securities, approximates fair value because of the short-term nature of these instruments. The following three levels of inputs are used to measure fair value: Level 1 — Quoted prices in active markets for identical assets and liabilities. Level 2 — Significant other observable inputs. Level 3 — Significant unobservable inputs. The Company’s only financial instruments which are measured at fair value on a recurring basis are equity securities. The fair value of the equity securities is based on quoted market prices (Level 1 inputs) on the measurement date. The fair value of equity securities at both March 31, 2025 and December 31, 2024 is $1 million. The fair value of debt at March 31, 2025 and December 31, 2024 is in line with the carrying value as the debt was recently issued, the Company's credit profile has not substantially changed, and the interest rate is a floating market-based rate. The fair value of debt is based on unobservable inputs and would be classified as Level 3 in the hierarchy above. The fair value of the Company’s corporate debt securities was $27 million and $27 million at March 31, 2025 and December 31, 2024, respectively. The fair value of the corporate debt securities held at amortized cost was calculated based on quoted market prices which would be classified as Level 1 in the fair value hierarchy above. At March 31, 2025, the Company's debt securities were held by a separate cell of an insurance company as part of an agreement to fund insurance coverage. These debt securities are classified as long-term investments on the condensed consolidated balance sheets as access to the investments is subject to contractual restrictions, regardless of the underlying investment maturity.

- 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.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended					12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 47	$ 21	$ 22	$ (97)	$ 61	$ 7	$ (126)	$ (42)

- Definition

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

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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Revision of Previously Issued Financial Statements - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 47	$ 21	$ 22	$ (97)	$ 61	$ 7	$ (126)	$ (42)
Deferred income taxes	(2)				3	7	(64)	(104)
Change in operating assets and liabilities:
Inventories	5				(27)	(43)	(6)
Other current and non-current assets	(18)				396	377	(418)
Other current and non-current liabilities	81				0	8	110	(100)
Net cash provided by (used in) operating activities	$ 75				(37)	36	(300)	(4)
As reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income		20	21	(98)	60	2	(129)	(44)
Deferred income taxes						6	(65)	(105)
Change in operating assets and liabilities:
Inventories						(45)	(15)
Other current and non-current assets						378	(410)
Other current and non-current liabilities						14	114	(97)
Net cash provided by (used in) operating activities						36	(300)	(4)
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income		$ 1	$ 1	$ 1	$ 1	5	3	3
Deferred income taxes						1	1	1
Change in operating assets and liabilities:
Inventories						2	9
Other current and non-current assets						(1)	(9)
Other current and non-current liabilities						(6)	(4)	(4)
Net cash provided by (used in) operating activities						$ 0	$ 0	$ 0

Income Tax - Effective Income Tax Rates (Details) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Total income before income taxes	$ 59	$ 38	$ 30	$ (121)	$ 73	$ 20	$ (145)	$ (86)
Total income tax expense	$ 11	$ 17	$ 8	$ (23)	$ 11	$ 13	$ (19)	$ (43)
Total effective tax rate	19.00%				16.00%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Debt (Details) - USD ($) $ in Millions	3 Months Ended
Debt (Details) - USD ($) $ in Millions	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Debt Instrument [Line Items]
Interest expense	$ 9	$ 7
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	50
Amount of facility utilized	0
Secured Debt
Debt Instrument [Line Items]
Outstanding balance	346		$ 350
Secured Debt \| Note Purchase Agreement
Debt Instrument [Line Items]
Principal amount	$ 350

- 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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- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Property, Plant, and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

A summary of property, plant and equipment is as follows:


	March 31, 2025		December 31, 2024
Land and buildings	$	77	$	76
Plant and equipment	78		76
Construction in progress	42		38
Gross property, plant and equipment	197		190
Less: Accumulated depreciation	(92)		(90)
Total property, plant and equipment, net	$	104	$	100

Property, Plant, and Equipment, Net

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

5. Property, Plant and Equipment, Net

A summary of property, plant and equipment is as follows:


	March 31, 2025		December 31, 2024
Land and buildings	$	77	$	76
Plant and equipment	78		76
Construction in progress	42		38
Gross property, plant and equipment	197		190
Less: Accumulated depreciation	(92)		(90)
Total property, plant and equipment, net	$	104	$	100

The Company capitalizes interest expense, if material, as part of the cost of construction of property, plant and equipment. Interest expense capitalized was $1 million in the three months ended March 31, 2025 and 2024.

Capital expenditures of $2 million and $1 million were included in accounts payable and accrued expenses at March 31, 2025 and March 31, 2024, respectively.

Financial Instruments and Fair Value Measurements (Details) - Level 1 - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of equity securities	$ 1	$ 1
Fair value of corporate debt securities	$ 27	$ 27

- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(2))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482736/825-10-45-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Income Tax - Narrative (Details) $ in Millions	3 Months Ended
Income Tax - Narrative (Details) $ in Millions	Mar. 31, 2025 USD ($)
Minimum
Income Tax Examination [Line Items]
Estimate of additional tax liabilities and interest on resolution of examinations	$ 0
Maximum
Income Tax Examination [Line Items]
Estimate of additional tax liabilities and interest on resolution of examinations	$ 65

Revision of Previously Issued Financial Statements (Tables)

3 Months Ended

Mar. 31, 2025

Accounting Changes and Error Corrections [Abstract]

Schedule of Revision of Previously Issued Financial Statements

A summary of the corrections to the impacted financial statement line items is presented below. An adjustment to reclassify a portion of inventories as other noncurrent assets as of December 31, 2024 and 2023 has also been reflected below.

Consolidated Balance Sheets


	As reported		Adjustment		Revised
	December 31, 2024
Inventories	$	178	$	(10)	$	167
Current tax receivable	34		(1)		33
Total current assets	839		(12)		827
Deferred tax assets	280		(3)		277
Other noncurrent assets	29		10		39
Total assets	$	1,319	$	(4)	$	1,316

Accounts payable and accrued expenses	$	232	$	(16)	$	216

Total current liabilities	939		(16)		924
Total liabilities	1,668		(16)		1,652
Accumulated deficit	(454)		12		(443)
Total shareholders' deficit	(348)		12		(337)
Total liabilities and shareholders' deficit	$	1,319	$	(4)	$	1,316

	December 31, 2023
Inventories	$	135	$	(9)	$	126
Total current assets	1,266		(9)		1,257
Deferred tax assets	288		(2)		286
Other noncurrent assets	28		9		36
Total assets	$	1,760	$	(2)	$	1,758

Accounts payable and accrued expenses	$	204	$	(10)	$	195
Total current liabilities	1,290		(10)		1,281
Total liabilities	1,951		(9)		1,942
Accumulated deficit	(295)		7		(288)
Total shareholders' deficit	(191)		7		(184)
Total liabilities and shareholders' deficit	$	1,760	$	(2)	$	1,758

Consolidated Statements of Operations


	As reported		Adjustment		Revised
	Year ended December 31, 2024
Selling, general and administrative expenses	$	618	$	(6)	$	612
Total operating expenses, net	925		(6)		919
Operating income	32		6		38
Income before income taxes	14		6		20
Income tax expense	(11)		(2)		(13)
Net income	$	2	$	5	$	7

Earnings per Share
Basic	$	0.02	$	0.03	$	0.05
Diluted	$	0.02	$	0.03	$	0.05

	Year ended December 31, 2023
Selling, general and administrative expenses	$	569	$	(4)	$	565
Total operating expenses, net	1,076		(4)		1,072
Operating loss	(156)		4		(152)
Loss before income taxes	(149)		4		(145)
Income tax benefit	20		(1)		19
Net loss	$	(129)	$	3	$	(126)

Loss per Share
Basic	$	(0.94)	$	0.02	$	(0.92)
Diluted	$	(0.94)	$	0.02	$	(0.92)

	Year ended December 31, 2022
Selling, general and administrative expenses	$	469	$	(4)	$	466
Total operating expenses, net	831		(4)		827
Operating loss	(81)		4		(77)
Loss before income taxes	(89)		4		(86)
Income tax benefit	44		(1)		43
Net loss	$	(44)	$	3	$	(42)

Loss per Share
Basic	$	(0.32)	$	0.02	$	(0.30)
Diluted	$	(0.32)	$	0.02	$	(0.30)

Consolidated Statements of Cash Flows


	As reported		Adjustment		Revised
	December 31, 2024
Net income	$	2	$	5	$	7
Deferred income taxes	6		1		7
Change in operating assets and liabilities:
Inventories	(45)		2		(43)
Other current and noncurrent assets	378		(1)		377
Other current and noncurrent liabilities	14		(6)		8
Net cash provided by operating activities	$	36	$	—	$	36

	December 31, 2023
Net loss	$	(129)	$	3	$	(126)
Deferred income taxes	(65)		1		(64)
Change in operating assets and liabilities:
Inventories	(15)		9		(6)
Other current and noncurrent assets	(410)		(9)		(418)
Other current and noncurrent liabilities	114		(4)		110
Net cash used in operating activities	$	(300)	$	—	$	(300)

	December 31, 2022
Net loss	$	(44)	$	3	$	(42)
Deferred income taxes	(105)		1		(104)
Change in operating assets and liabilities:
Other current and noncurrent liabilities	(97)		(4)		(100)
Net cash used in operating activities	$	(4)	$	—	$	(4)

Revisions to unaudited selected quarterly financial data presented in our Annual Report on Form 10-K for the year ended December 31, 2024 are summarized as follows:


	As reported		Adjustment		Revised
	Three months ended March 31, 2024
Selling, general and administrative expenses	$	145	$	(2)	$	143
Total operating expenses, net	172		(2)		171
Operating income	73		2		75
Income before income taxes	71		2		73
Income tax expense	(11)		—		(11)
Net income	$	60	$	1	$	61

	Three months ended June 30, 2024
Selling, general and administrative expenses	$	153	$	(2)	$	152
Total operating expenses, net	340		(2)		338
Operating loss	(119)		2		(118)
Loss before income taxes	(122)		2		(121)
Income tax benefit	24		—		23
Net loss	$	(98)	$	1	$	(97)

	Three months ended September 30, 2024
Selling, general and administrative expenses	$	144	$	(2)	$	142
Total operating expenses, net	207		(2)		206
Operating income	34		2		35
Income before income taxes	28		2		30
Income tax expense	(8)		—		(8)
Net income	$	21	$	1	$	22

	Three months ended December 31, 2024
Selling, general and administrative expenses	$	177	$	(2)	$	175
Total operating expenses, net	206		(2)		205
Operating income	44		2		46
Income before income taxes	36		2		38
Income tax expense	(16)		—		(17)
Net income	$	20	$	1	$	21

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2025	May 01, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2025
Document Transition Report	false
Entity File Number	001-37835
Registrant Name	Indivior PLC
Entity Incorporation, State or Country Code	X0
Entity Tax Identification Number	98-1204773
Entity Address, Address Line One	10710 Midlothian Turnpike Suite 125
Entity Address, City or Town	North Chesterfield
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23235
City Area Code	804
Local Phone Number	379-1040
Title of 12(b) Security	Ordinary shares, $0.50 nominal value per share
Trading Symbol	INDV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		124,769,533
Central Index Key	0001625297
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false

Inventories - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Noncurrent portion of inventory	$ 12	$ 10

Income Tax

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Tax

3. Income Tax

Indivior is a global biopharmaceutical company, subject to taxation in several different jurisdictions. The Company's tax provision for each period presented was calculated using a forecasted annual tax rate, adjusted for discrete items occurring during the applicable period to arrive at an effective tax rate. The effective income tax rates for the relevant periods were as follows:


	Three Months Ended March 31,
	2025			2024
Total income before income taxes	$	59		$	73
Total income tax expense	$	11		$	11
Total effective tax rate	19		%	16		%

Our income tax rate for the three months ended March 31, 2025 differs from the U.K. Federal statutory rate of 25%, due primarily to U.K. innovation deductions and intragroup financing transactions, partially offset by a U.K. global minimum top-up tax and share based compensation shortfall tax expense.

Our income tax rate for the three months ended March 31, 2024 differs from the U.K. Federal statutory rate of 25%, due primarily to share based compensation excess tax benefits, intragroup financing transactions, and U.K. innovation deductions.

During the three months ended March 31, 2025, there have been no material changes to the Company's unrecognized tax benefit when compared to the year ended December 31, 2024.

The Company is no longer subject to U.K. examinations by tax authorities for fiscal years before 2019 and U.S. federal income tax examinations by tax authorities for fiscal years before 2021. There are ongoing U.K. and U.S. state and local audits covering 2018-2022. An estimate of reasonably possible additional tax liabilities and interest that could arise on resolution of these examinations, including the impact from later periods, is in the range of nil to $65 million.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
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-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12B
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
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-Section S99
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Earnings Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended					12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 47	$ 21	$ 22	$ (97)	$ 61	$ 7	$ (126)	$ (42)
Basic weighted-average shares outstanding (in shares)	124				136
Effect of potentially dilutive securities:
Restricted stock awards (in shares)	1				2
Diluted weighted-average shares outstanding (in shares)	125				137
Basic earnings per share (in dollars per share)	$ 0.38				$ 0.45	$ 0.05	$ (0.92)	$ (0.30)
Diluted earnings per share (in dollars per share)	$ 0.38				$ 0.45	$ 0.05	$ (0.92)	$ (0.30)
Anti-dilutive securities excluded from computation of earnings per share	0				0

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

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

+ References

+ Details

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per Share

The following table summarizes the calculation of basic and diluted loss per share for the three months ended March 31, 2025 and 2024:


	Three Months Ended March 31,
	2025		2024
Net income	$	47	$	61

Basic weighted-average shares outstanding	124		136
Effect of potentially dilutive securities:
Restricted stock awards1	1		2
Diluted weighted-average shares outstanding	125		137

Basic earnings per share	0.38		0.45
Diluted earnings per share	0.38		0.45

1The potential shares excluded from the diluted earnings per share computation because of the antidilutive impact were nil in three months ended March 31, 2025 and March 31, 2024.

Inventories - Summary of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Raw materials and consumables	$ 33	$ 33
Work in progress	39	51
Finished goods	104	94
Total Inventories, net	$ 175	$ 178

Property, Plant, and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Interest expense capitalized	$ 1	$ 1
Capital expenditures included in accounts payable and accrued expenses	$ 2	$ 1

Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Expense and Income Tax Benefits for Share-Based Payments


	Three Months Ended March 31,
	2025		2024
Compensation expense related to share-based payments	$	6	$	6
Income tax (expense) benefit for share-based payments	(1)		3

Schedule of Restricted Stock Award Activity

A summary of the service-based restricted share awards and performance-based share awards activity under the LTIP for the three months ended March 31, 2025 is presented below (values in thousands):


	Outstanding Service-Based Restricted Share Awards	Outstanding Performance-Based Share Awards
Shares at December 31, 2024	1,036	4,717
Granted	1,773	1,582
Issued	(193)	(286)
Canceled/forfeited/adjusted	(176)	(1,555)
Shares at March 31, 2025	2,440	4,459

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 372	$ 319
Short-term investments	1	1
Accounts receivable, net of allowances of $2 (2025) and $3 (2024)	243	254
Inventories	163	167
Prepaid expenses	56	31
Current tax receivable	29	33
Other current assets	20	21
Total current assets	883	827
Long-term investments	27	27
Property, plant and equipment, net	104	100
Operating lease right of use assets, net	37	39
Goodwill and other intangible assets, net	7	6
Deferred tax assets	279	277
Other non-current assets	39	39
Total assets	1,375	1,316
Current liabilities
Accrued rebates and product returns	675	562
Accounts payable and accrued expenses	183	216
Accrued litigation settlement expenses, current	105	99
Current portion of long-term debt	18	18
Operating lease liabilities, current	11	10
Income taxes payable	12	7
Other current liabilities	3	11
Total current liabilities	1,005	924
Long-term debt, less current portion	311	315
Accrued litigation settlement expenses, non-current	297	365
Operating lease liabilities, non-current	30	32
Other non-current liabilities	17	18
Total liabilities	1,660	1,652
Commitments and contingencies (Note 12)
Shareholders' deficit
Common stock, par value $0.50 per share Issued shares: 125 (2025) and 125 (2024)	62	62
Additional paid-in capital	93	90
Share repurchase commitment	0	(10)
Accumulated other comprehensive loss	(35)	(36)
Accumulated deficit	(406)	(443)
Total shareholders' deficit	(285)	(337)
Total liabilities and shareholders' deficit	$ 1,375	$ 1,316

Accounts Payable and Accrued Expenses

3 Months Ended

Mar. 31, 2025

Payables and Accruals [Abstract]

Accounts Payable and Accrued Expenses

6. Accounts Payable and Accrued Expenses


	March 31, 2025		December 31, 2024
Accounts payable	$	46	$	63
Accrued employee-related obligations	45		60
Accrued indirect tax and government fees	23		23
Accrued other expenses	69		71
Total accounts payable and accrued expenses	$	183	$	216

Accrued other expenses includes various unbilled costs covering marketing, research and development, legal, consulting and other.

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Conditional Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards granted	3	2

Revision of Previously Issued Financial Statements - Consolidated Statements of Operations and Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended					12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Selling, general and administrative	$ 132	$ 175	$ 142	$ 152	$ 143	$ 612	$ 565	$ 466
Total operating expenses, net	156	205	206	338	171	919	1,072	827
Operating income (loss)	66	46	35	(118)	75	38	(152)	(77)
Income (loss) before income taxes	59	38	30	(121)	73	20	(145)	(86)
Income tax expense (benefit)	(11)	(17)	(8)	23	(11)	(13)	19	43
Net income (loss)	$ 47	21	22	(97)	$ 61	$ 7	$ (126)	$ (42)
Earnings (Loss) per Share
Basic (in dollars per share)	$ 0.38				$ 0.45	$ 0.05	$ (0.92)	$ (0.30)
Diluted (in dollars per share)	$ 0.38				$ 0.45	$ 0.05	$ (0.92)	$ (0.30)
As reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Selling, general and administrative		177	144	153	$ 145	$ 618	$ 569	$ 469
Total operating expenses, net		206	207	340	172	925	1,076	831
Operating income (loss)		44	34	(119)	73	32	(156)	(81)
Income (loss) before income taxes		36	28	(122)	71	14	(149)	(89)
Income tax expense (benefit)		(16)	(8)	24	(11)	(11)	20	44
Net income (loss)		20	21	(98)	60	$ 2	$ (129)	$ (44)
Earnings (Loss) per Share
Basic (in dollars per share)						$ 0.02	$ (0.94)	$ (0.32)
Diluted (in dollars per share)						$ 0.02	$ (0.94)	$ (0.32)
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Selling, general and administrative		(2)	(2)	(2)	(2)	$ (6)	$ (4)	$ (4)
Total operating expenses, net		(2)	(2)	(2)	(2)	(6)	(4)	(4)
Operating income (loss)		2	2	2	2	6	4	4
Income (loss) before income taxes		2	2	2	2	6	4	4
Income tax expense (benefit)		0	0	0	0	(2)	(1)	(1)
Net income (loss)		$ 1	$ 1	$ 1	$ 1	$ 5	$ 3	$ 3
Earnings (Loss) per Share
Basic (in dollars per share)						$ 0.03	$ 0.02	$ 0.02
Diluted (in dollars per share)						$ 0.03	$ 0.02	$ 0.02

Business Overview, Basis of Presentation, and Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Consolidation	The accompanying unaudited interim condensed consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of Indivior PLC and its subsidiaries and related notes as contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The unaudited interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented.
Use of Estimates and Judgments	The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported. Significant estimates are used in determining items such as accruals for returns, incentives and rebates, certain accrued expenses, acquisitions, and ongoing litigation. Actual results may differ from those estimates.
Recently Issued Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	There were no material new accounting standards issued or adopted in the first quarter of 2025. ASU 2024-03: Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)—Disaggregation of Income Statement Expenses This update requires disclosure in the notes to the financial statements of specified information about certain costs and expenses and is required to be effective for the Company for fiscal periods beginning after December 15, 2026. As this accounting standard only impacts disclosures, it will not impact the Company’s Consolidated Statements of Operations or Consolidated Balance Sheets.

Condensed Consolidated Statements of Stockholders’ Deficit - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional paid-in capital	Share repurchase commitment	Accumulated other comprehensive loss	Accumulated deficit
Balance at beginning of period (in shares) at Dec. 31, 2023		137
Balance at beginning of period at Dec. 31, 2023	$ (184)	$ 68	$ 88	$ (23)	$ (30)	$ (288)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61					61
Other comprehensive income (loss)	(3)				(3)
Common stock issued (in shares)		1
Common stock issued	2	$ 1	1
Common stock repurchased and canceled (in shares)		(2)
Common stock repurchased and canceled	(36)	$ (1)				(35)
Share-based compensation	6		6
Share repurchase liability movement, net	14			14
Settlement of tax on equity awards	(20)		(20)
Other	(1)		(1)
Balance at end of period (in shares) at Mar. 31, 2024		136
Balance at end of period at Mar. 31, 2024	(161)	$ 68	74	(9)	(32)	(262)
Balance at beginning of period (in shares) at Dec. 31, 2023		137
Balance at beginning of period at Dec. 31, 2023	(184)	$ 68	88	(23)	(30)	(288)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 7
Balance at end of period (in shares) at Dec. 31, 2024	125	125
Balance at end of period at Dec. 31, 2024	$ (337)	$ 62	90	(10)	(36)	(443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47					47
Other comprehensive income (loss)	1				1
Common stock issued (in shares)		1
Common stock issued	1
Common stock repurchased and canceled (in shares)		(1)
Common stock repurchased and canceled	(11)					(10)
Share-based compensation	6		6
Share repurchase liability movement, net	10			10
Settlement of tax on equity awards	$ (3)		(3)
Balance at end of period (in shares) at Mar. 31, 2025	125	125
Balance at end of period at Mar. 31, 2025	$ (285)	$ 62	$ 93	$ 0	$ (35)	$ (406)

Accrued Litigation Settlement Expenses - Summary of Accrued Litigation Settlement Expenses (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Accrued litigation and settlement expenses, current	$ 105	$ 99
Accrued legal and settlement expenses, non-current	297	365
Accrued litigation and settlement expenses, total	402	464
DOJ-related
Loss Contingencies [Line Items]
Accrued litigation and settlement expenses, current	50	52
Accrued legal and settlement expenses, non-current	246	296
Accrued litigation and settlement expenses, total	297	348
Antitrust claims
Loss Contingencies [Line Items]
Accrued litigation and settlement expenses, current	19	24
Accrued legal and settlement expenses, non-current	0	0
Accrued litigation and settlement expenses, total	19	24
Opioid litigation
Loss Contingencies [Line Items]
Accrued litigation and settlement expenses, current	27	15
Accrued legal and settlement expenses, non-current	51	61
Accrued litigation and settlement expenses, total	78	76
Other
Loss Contingencies [Line Items]
Accrued litigation and settlement expenses, current	8	8
Accrued legal and settlement expenses, non-current	0	8
Accrued litigation and settlement expenses, total	$ 8	$ 16

- 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

Income Tax (Tables)

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rates

The effective income tax rates for the relevant periods were as follows:


	Three Months Ended March 31,
	2025			2024
Total income before income taxes	$	59		$	73
Total income tax expense	$	11		$	11
Total effective tax rate	19		%	16		%

Inventories

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

Inventories

4. Inventories

Inventories are comprised of:


	March 31, 2025		December 31, 2024
Raw materials and consumables	$	33	$	33
Work in progress	39		51
Finished goods	104		94
Total Inventories, net	$	175	$	178

Inventory expected to be sold more than one year from the balance sheet date is classified as noncurrent inventory and recorded in other noncurrent assets on the condensed consolidated balance sheets. At March 31, 2025 and December 31, 2024, the noncurrent portion of inventory was $12 million and $10 million, respectively and consisted primarily of raw materials and consumables (see Note 13. Revision of Previously Issued Financial Statements).

Accounts Payable and Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2025

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses


	March 31, 2025		December 31, 2024
Accounts payable	$	46	$	63
Accrued employee-related obligations	45		60
Accrued indirect tax and government fees	23		23
Accrued other expenses	69		71
Total accounts payable and accrued expenses	$	183	$	216

Inventories (Tables)

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

Schedule of Current Inventories

Inventories are comprised of:


	March 31, 2025		December 31, 2024
Raw materials and consumables	$	33	$	33
Work in progress	39		51
Finished goods	104		94
Total Inventories, net	$	175	$	178

Schedule of Noncurrent Inventories

Inventories are comprised of:


	March 31, 2025		December 31, 2024
Raw materials and consumables	$	33	$	33
Work in progress	39		51
Finished goods	104		94
Total Inventories, net	$	175	$	178

Accrued Litigation Settlement Expenses

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Accrued Litigation Settlement Expenses

7. Accrued Litigation Settlement Expenses


	March 31, 2025						December 31, 2024
	Current		Non current		Total		Current		Non current		Total
Accrued litigation settlement expenses
DOJ-related	$	50	$	246	$	297	$	52	$	296	$	348
Antitrust claims	19		—		19		24		—		24
Opioid litigation	27		51		78		15		61		76
Other	8		—		8		8		8		16
Total accrued litigation settlement expenses	$	105	$	297	$	402	$	99	$	365	$	464

DOJ-related

In July 2020, the Company settled criminal and civil liability with the U.S. Department of Justice (DOJ), the U.S. Federal Trade Commission (FTC), and U.S. state attorneys general. A scheduled payment of $52 million was made during the three months ended March 31, 2025 with respect to this matter.

Opioid litigation

The accrual of $78 million at March 31, 2025 reflects the present value of the agreed amount in a preliminary settlement covering certain opioid litigation (including cases in the Opioid MDL). The provision is measured using a risk-free rate.

Antitrust claims

An installment of $5 million was paid in the three months ended March 31, 2025 in relation to the last remaining antitrust litigation and the remaining accrual of $19 million at March 31, 2025 reflects the NPV at the risk-free rate of the amounts to be paid in 2025. This final settlement resolves all of the Company’s remaining legacy antitrust litigation.

See Note 12. Commitments and Contingencies for additional information on legal matters.

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accounts payable	$ 46	$ 63
Accrued employee-related obligations	45	60
Accrued indirect tax and government fees	23	23
Accrued other expenses	69	71
Total accounts payable and accrued expenses	$ 183	$ 216	$ 195

Revision of Previously Issued Financial Statements - Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories	$ 163	$ 167		$ 126
Current tax receivable	29	33
Total current assets	883	827		1,257
Deferred tax assets	279	277		286
Other non-current assets	39	39		36
Total assets	1,375	1,316		1,758
Accounts payable and accrued expenses	183	216		195
Total current liabilities	1,005	924		1,281
Total liabilities	1,660	1,652		1,942
Accumulated deficit	(406)	(443)		(288)
Total shareholders' deficit	(285)	(337)	$ (161)	(184)
Total liabilities and shareholders' deficit	$ 1,375	1,316		1,758
As reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories		178		135
Current tax receivable		34
Total current assets		839		1,266
Deferred tax assets		280		288
Other non-current assets		29		28
Total assets		1,319		1,760
Accounts payable and accrued expenses		232		204
Total current liabilities		939		1,290
Total liabilities		1,668		1,951
Accumulated deficit		(454)		(295)
Total shareholders' deficit		(348)		(191)
Total liabilities and shareholders' deficit		1,319		1,760
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories		(10)		(9)
Current tax receivable		(1)
Total current assets		(12)		(9)
Deferred tax assets		(3)		(2)
Other non-current assets		10		9
Total assets		(4)		(2)
Accounts payable and accrued expenses		(16)		(10)
Total current liabilities		(16)		(10)
Total liabilities		(16)		(9)
Accumulated deficit		12		7
Total shareholders' deficit		12		7
Total liabilities and shareholders' deficit		$ (4)		$ (2)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 47	$ 21	$ (97)	$ 61	$ 7	$ (126)
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	5			5
Share-based compensation expense	6			6
Impairment of tangible and intangible assets	0			1
Deferred income taxes	(2)			3	7	(64)
Impact from foreign exchange movements	(1)			(1)
Other adjustments, net	1			1
Change in operating assets and liabilities:
Accounts receivable	11			4
Inventories	5			(27)	(43)	(6)
Other current and non-current assets	(18)			396	377	(418)
Accrued legal and settlement expenses	(62)			(486)
Other current and non-current liabilities	81			0	8	110
Net cash provided by (used in) operating activities	75			(37)	36	(300)
Cash flows from investing activities:
Purchases of property and equipment	(5)			(2)
Purchases of in-process research and development and intangible assets	0			(1)
Purchases of investments in debt securities	(5)			(4)
Sales and maturities of debt securities	6			31
Net cash (used in) provided by investing activities	(5)			25
Cash flows from financing activities:
Proceeds from the issuance of common stock	1			2
Cash paid for repurchases of common stock	(11)			(36)
Repayments of debt	(4)			(1)
Other	0			(1)
Settlement of tax on equity awards	(3)			(20)
Net cash used in financing activities	(17)			(56)
Net increase (decrease) in cash and cash equivalents	53			(68)
Cash and cash equivalents at beginning of period	319		$ 248	316	316
Cash and cash equivalents at end of period	$ 372	$ 319		$ 248	$ 319	$ 316

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Legal Proceedings and Contingencies The Company records accruals for loss contingencies associated with legal matters when it is probable that a liability will be incurred, and the amount of the loss can be reasonably estimated. Certain ongoing legal proceedings or threats of legal proceedings to which the Company is a party, but in which the Company believes the possibility of an adverse impact is remote, are not discussed in this Note. Civil Opioid Litigation The Company has been named as a defendant in more than 400 civil lawsuits alleging that manufacturers, distributors, and retailers of opioids engaged in a longstanding practice to market opioids as safe and effective for the treatment of long-term chronic pain to increase the market for opioids and their own market shares for opioids, or alleging individual personal injury claims. Most of these cases have been consolidated and are pending in a federal multi-district litigation in the U.S. District Court for the Northern District of Ohio. See In re National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) (the "Opioid MDL"). Nearly two-thirds of the cases in the Opioid MDL were filed by cities and counties, while nearly one-third of the cases were filed by private plaintiffs, most of whom assert claims relating to neonatal abstinence syndrome ("NAS"). Cases brought by cities and counties outside of the MDL include, for example, 35 actions pending in New York state court, 8 writs filed in Pennsylvania state court, and actions brought in federal district courts in Florida and Georgia. Litigation against the Company in the Opioid MDL and the other federal courts is stayed. The New York state court has not yet entered a case management order. The Company has not yet been served with a complaint in any of the Pennsylvania state court matters. Pursuant to mediation, the Company, the Plaintiffs' Executive Committee (PEC) in the Opioid MDL, Tribal Leadership Committee (TLC), and an executive committee of state attorneys general reached agreement on the amount of a potential settlement. The Company has recorded a related provision of $78 million, reflecting the NPV of the agreed amount (See Note 7. Accrued Litigation Settlement Expenses). The Company, PEC, and executive committee of state attorneys general have reached agreement on material settlement terms, with details concerning the timing and structure of payments and product distribution to be agreed upon. The Company and the TLC are in the process of negotiating remaining material settlement terms. These settlements would not resolve private plaintiff cases against the Company (whether in the MDL or proceeding separately). With respect to cases outside the MDL that were not filed by cities or counties: Indivior Inc. was named as a defendant in San Miguel Hospital Corp. d/b/a Alta Vista Regional Medical Center v. Johnson & Johnson, et al., No. 1:23-cv-00903 (D.N.M.) on March 18, 2024. On March 4, 2025, the court dismissed the complaint. On October 28, 2024, Indivior Inc. was named as one of numerous defendants in five individual complaints involving claims related to NAS and filed in West Virginia state court, that were transferred to West Virginia's Mass Litigation Panel. See In re Opioid Litigation, No. 22-C-9000 NAS (W.V. Kanawha Cnty. Cir. Ct.) ("WV MLP Action"). The plaintiffs filed a notice of appeal in the West Virginia Supreme Court as to all defendants, including Indivior, on February 27, 2025. The West Virginia Supreme Court has set a briefing schedule under which briefing on the appeal will close on August 4, 2025. Additionally, on May 23, 2024, the Consumer Protection Division of the Office of the Attorney General of Maryland served on Indivior Inc. an administrative subpoena related generally to opioid products marketed and sold in Maryland. Indivior Inc.'s response to the subpoena remains ongoing. The Company has begun its evaluation of all of the claims, believes it has meritorious defenses, and intends to vigorously defend itself in all actions that would not be resolved by the proposed settlement. Given the status and preliminary stage of litigation, no estimate of possible loss for those matters can be made at this time. Dental Allegations The Company has been named as a defendant in numerous lawsuits alleging that SUBOXONE Film was defectively designed and caused dental injury, and that the Company failed to properly warn of the risks of such injuries. The plaintiffs generally seek compensatory damages, as well as punitive damages and attorneys’ fees and costs. Plaintiffs and potential plaintiffs related to these lawsuits generally can be grouped as follows: Dental MDL Plaintiffs: 1,611 cases naming 3,572 plaintiffs have been consolidated in multi-district litigation in the Northern District of Ohio. See In Re Suboxone (Buprenorphine/Naloxone) Film Products Liability Litigation, MDL No. 3092 (N.D. Oh.) (the "Dental MDL"). Dental MDL Schedule A Plaintiffs: On April 14, 2025, the plaintiffs filed an amended Schedule A that reduced the number of Schedule A claimants to 8,575. State Court Plaintiffs: One complaint has been filed in New Jersey state court, and the parties have agreed to toll the claims of more than 850 other individuals in Delaware, New Jersey, and Virginia. Complaints have not yet been filed on behalf of the tolled individuals. The Company has begun its evaluation of the claims, believes it has meritorious defenses, and intends to vigorously defend itself. Given the status and preliminary stage of litigation, no estimate of possible loss can be made at this time. U.K. Shareholder Claims On September 21, 2022, certain shareholders issued representative and multiparty claims against Indivior PLC in the High Court of Justice for the Business and Property Courts of England and Wales, King’s Bench Division. The claims made in both the representative and multiparty actions generally allege that Indivior PLC violated the U.K. Financial Services and Markets Act 2000 (“FSMA 2000”) by making false or misleading statements or material omissions in public disclosures, including the 2014 Demerger Prospectus, regarding an alleged product-hopping scheme regarding the switch from SUBOXONE Tablets to SUBOXONE Film. On January 23, 2025, the appellate court affirmed the dismissal, and on February 19, 2025 the claimants applied for permission to appeal to the Supreme Court on February 19, 2025. The Company opposed, and the court refused the application on February 27, 2025. The claimants have applied directly to the U.K. Supreme Court to further appeal. The Company has begun its evaluation of the remaining claims, believes it has meritorious defenses, and intends to vigorously defend itself. Given the status and preliminary stage of the litigation, no estimate of possible loss can be made at this time. U.S. Shareholder Claims A class action lawsuit was filed against Indivior PLC, Mark Crossley (the CEO of the Company), and Ryan Preblick (the CFO of the Company) on August 2, 2024, alleging violations of certain U.S. federal securities laws, and the lead plaintiff filed an amended complaint on December 5, 2024 which also named Richard Simkin (the CCO of the Company) as a defendant. The defendants moved to dismiss. On April 22, 2025, the court heard oral argument and granted the motion to dismiss. The court indicated that a formal opinion will follow, and the plaintiffs will have 30 days from the date of the opinion to amend their complaint. The Company has begun its evaluation of the claims, believes it has meritorious defenses, and intends to vigorously defend itself. Given the status and preliminary stage of the litigation, no estimate of possible loss can be made at this time. Opiant Shareholder Claims On November 8, 2023, plaintiff James Litten filed a class action complaint in the Delaware Court of Chancery alleging that former officers and directors of Opiant Pharmaceuticals, Inc. ("Opiant") breached fiduciary duties of care, loyalty, and good faith in connection with Indivior PLC's 2022 acquisition of Opiant. The court heard argument on the motion to dismiss on January 17, 2025 and heard additional argument on February 19, 2025. The Company has begun its evaluation of the claims, believes it has meritorious defenses, and intends to vigorously defend itself. Given the status and preliminary stage of the litigation, no estimate of possible loss can be made at this time.

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Income Statement [Abstract]
Net revenue	$ 266	$ 284
Cost of sales	44	38
Gross profit	221	246
Operating expenses:
Selling, general and administrative	132	143
Research and development	22	28
Litigation settlement	1	0
Total operating expenses	156	171
Operating income	66	75
Other income and expenses:
Interest income	4	7
Interest expense	(12)	(9)
Income before income taxes	59	73
Income tax expense	(11)	(11)
Net income (loss)	47	61
Other comprehensive income (loss), net of tax
Foreign currency translation	1	(3)
Other comprehensive income (loss)	$ 1	$ (3)
Earnings per share
Basic (in dollars per share)	$ 0.38	$ 0.45
Diluted (in dollars per share)	$ 0.38	$ 0.45
Shares used in computing earnings per share
Basic (in shares)	124	136
Diluted (in shares)	125	137
Comprehensive Income
Net income	$ 47	$ 61
Total comprehensive income	$ 49	$ 59

Segment, Geographic and Other Revenue Information (Details) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net revenue	$ 266				$ 284
Cost of sales	44				38
Gross profit	221				246
Operating expenses:
Total selling, general and administrative	132	$ 175	$ 142	$ 152	143	$ 612	$ 565	$ 466
Research and development	22				28
Litigation settlement	1				0
Total operating expenses	156	205	206	338	171	919	1,072	827
Operating income	66	46	35	(118)	75	38	(152)	(77)
Other income and expenses:
Interest income	4				7
Interest expense	(12)				(9)
Income before income taxes	59	38	30	(121)	73	20	(145)	(86)
Income tax expense	(11)	(17)	(8)	23	(11)	(13)	19	43
Net income (loss)	47	$ 21	$ 22	$ (97)	61	$ 7	$ (126)	$ (42)
Reportable Segment
Segment Reporting Information [Line Items]
Net revenue	266				284
Cost of sales	44				38
Gross profit	221				246
Operating expenses:
Selling and marketing	67				67
Administrative and general	65				77
Total selling, general and administrative	132				143
Research and development	22				28
Litigation settlement	1				0
Total operating expenses	156				171
Operating income	66				75
Other income and expenses:
Interest income	4				7
Interest expense	(12)				(9)
Income before income taxes	59				73
Income tax expense	(11)				(11)
Net income (loss)	47				61
Reportable Segment \| SUBLOCADE
Segment Reporting Information [Line Items]
Net revenue	176				179
Reportable Segment \| US
Segment Reporting Information [Line Items]
Net revenue	222				241
Reportable Segment \| US \| SUBLOCADE
Segment Reporting Information [Line Items]
Net revenue	163				168
Reportable Segment \| US \| Sublingual & other
Segment Reporting Information [Line Items]
Net revenue	54				63
Reportable Segment \| US \| PERSERIS
Segment Reporting Information [Line Items]
Net revenue	4				11
Reportable Segment \| Rest of World
Segment Reporting Information [Line Items]
Net revenue	$ 44				$ 42

Share-Based Payments - Compensation Expense and Income Tax Benefits for Share-Based Payments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Compensation expense related to share-based payments	$ 6	$ 6
Income tax (expense) benefit for share-based payments	$ (1)	$ 3

Business Overview, Basis of Presentation, and Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2025
Accounting Policies [Abstract]
Business Overview, Basis of Presentation, and Recently Issued Accounting Standards	1. Business Overview, Basis of Presentation, and Recently Issued Accounting Standards Business Overview Indivior PLC and its subsidiaries (together, “Indivior” or the “Company”) is a global pharmaceutical company working to help change patients’ lives by pioneering life-transforming treatment for addiction, including SUBLOCADE (buprenorphine extended-release) injection for subcutaneous use, a long-acting injectable (LAI) for opioid use disorder and OPVEE (Nalmefene) nasal spray for opioid overdose recovery. Basis of Consolidation The accompanying unaudited interim condensed consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of Indivior PLC and its subsidiaries and related notes as contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The unaudited interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. The accounting policies of the Company are consistent with those disclosed in "Item 1. Financial Statements - Note 2 Summary of Significant Accounting Policies" of our Annual Report on Form 10-K for the year ended December 31, 2024. Columns and rows within tables may not add due to rounding. Percentages and per share data have been calculated using actual, non-rounded figures. Use of Estimates and Judgments The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported. Significant estimates are used in determining items such as accruals for returns, incentives and rebates, certain accrued expenses, acquisitions, and ongoing litigation. Actual results may differ from those estimates. Recently Issued Accounting Standards There were no material new accounting standards issued or adopted in the first quarter of 2025. Recently Issued Accounting Standards Not Yet Adopted ASU 2024-03: Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)—Disaggregation of Income Statement Expenses This update requires disclosure in the notes to the financial statements of specified information about certain costs and expenses and is required to be effective for the Company for fiscal periods beginning after December 15, 2026. As this accounting standard only impacts disclosures, it will not impact the Company’s Consolidated Statements of Operations or Consolidated Balance Sheets.

Commitments and Contingencies (Details) $ in Millions		3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Apr. 14, 2025 plaintiff	Mar. 31, 2025 USD ($) claim plaintiff individual	Dec. 31, 2024 USD ($)
Loss Contingencies [Line Items]
Accrual recorded \| $		$ 402	$ 464
Civil Opioid Litigation
Loss Contingencies [Line Items]
Number of pending claims		400
Civil Opioid Litigation, MDL
Loss Contingencies [Line Items]
Accrual recorded \| $		$ 78
Civil Opioid Litigation, MDL \| New York
Loss Contingencies [Line Items]
Number of pending claims		35
Civil Opioid Litigation, MDL \| Pennsylvania
Loss Contingencies [Line Items]
Number of pending claims		8
Civil Opioid Litigation, MDL, Cities and Counties
Loss Contingencies [Line Items]
Percentage of pending claims		66.67%
Civil Opioid Litigation, MDL, Private Plaintiffs
Loss Contingencies [Line Items]
Percentage of pending claims		33.33%
Civil Opioid Litigation, Other \| West Virginia
Loss Contingencies [Line Items]
Number of pending claims		5
Dental Allegations, MDL
Loss Contingencies [Line Items]
Number of pending claims		1,611
Number of plaintiffs \| plaintiff		3,572
Dental Allegations, MDL Schedule A \| Subsequent Event
Loss Contingencies [Line Items]
Number of plaintiffs \| plaintiff	8,575
Dental Allegations, State Court
Loss Contingencies [Line Items]
Number of new claims filed		1
Number of individuals with tolled claims (more than) \| individual		850

Property, Plant, and Equipment, Net - Summary of Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 197	$ 190
Less: Accumulated depreciation	(92)	(90)
Total property, plant and equipment, net	104	100
Land and buildings
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	77	76
Plant and equipment
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	78	76
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 42	$ 38

Accrued Litigation Settlement Expenses (Tables)

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Accrued Litigation and Settlement Expenses


	March 31, 2025						December 31, 2024
	Current		Non current		Total		Current		Non current		Total
Accrued litigation settlement expenses
DOJ-related	$	50	$	246	$	297	$	52	$	296	$	348
Antitrust claims	19		—		19		24		—		24
Opioid litigation	27		51		78		15		61		76
Other	8		—		8		8		8		16
Total accrued litigation settlement expenses	$	105	$	297	$	402	$	99	$	365	$	464

Share-Based Payments

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Share-Based Payments

11. Share-Based Payments

The Company operates three equity-settled executive and employee share plans. For share-based payment awards, the fair value at the grant date is calculated using appropriate pricing models. The programs and related accounting are described in "Item 8. Financial Statements—Note 15. Share-Based Payments” of our Annual Report on Form 10-K for the year ended December 31, 2024.


	Three Months Ended March 31,
	2025		2024
Compensation expense related to share-based payments	$	6	$	6
Income tax (expense) benefit for share-based payments	(1)		3

Indivior Long-Term Incentive Plan (LTIP)

A summary of the service-based restricted share awards and performance-based share awards activity under the LTIP for the three months ended March 31, 2025 is presented below (values in thousands):


	Outstanding Service-Based Restricted Share Awards	Outstanding Performance-Based Share Awards
Shares at December 31, 2024	1,036	4,717
Granted	1,773	1,582
Issued	(193)	(286)
Canceled/forfeited/adjusted	(176)	(1,555)
Shares at March 31, 2025	2,440	4,459

The weighted average fair value per share of the service-based restricted share awards granted was $9.70 for the three months ended March 31, 2025, based on the fair market value at the date of grant. The total fair value of restricted share awards issued was $3 million for the three months ended March 31, 2025.

The weighted average fair value per share of the performance-based share awards granted per share was $8.67 for the three months ended March 31, 2025, calculated using the weighted average fair market value for each of the component goals at the date of grant. The total fair value of performance-based share awards issued was nil for the three months ended March 31, 2025.

Total compensation cost for unvested awards not yet recognized at March 31, 2025 was approximately $21 million and $25 million for service-based restricted share awards and performance-based restricted awards, respectively. We recognize compensation cost over the expected remaining weighted-average period of 2.6 years and 2.0 years for service-based restricted share awards and performance-based share awards, respectively.

Share Options

The Company did not grant any share options in the three months ended March 31, 2025. No share options were exercised in three months ended March 31, 2025.

Earnings Per Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

10. Earnings Per Share

The following table summarizes the calculation of basic and diluted loss per share for the three months ended March 31, 2025 and 2024:


	Three Months Ended March 31,
	2025		2024
Net income	$	47	$	61

Basic weighted-average shares outstanding	124		136
Effect of potentially dilutive securities:
Restricted stock awards1	1		2
Diluted weighted-average shares outstanding	125		137

Basic earnings per share	0.38		0.45
Diluted earnings per share	0.38		0.45

1The potential shares excluded from the diluted earnings per share computation because of the antidilutive impact were nil in three months ended March 31, 2025 and March 31, 2024.

The weighted average number of shares is adjusted for the number of shares granted to the extent market conditions have been met at the balance sheet date and determined using the treasury stock method.

Conditional awards of 3 million and 2 million shares were granted under the Company’s Long-Term Incentive Plan in the three months ended March 31, 2025 and 2024, respectively.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2	$ 3
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, issued shares (in shares)	125	125

Share-Based Payments - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2025 USD ($) plan $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of equity-settled share plans \| plan	3
Share options granted (in shares) \| shares	0
Stock options exercised (in shares) \| shares	0
Service-Based Restricted Share Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average fair value of awards granted (in dollars per share) \| $ / shares	$ 9.70
Fair value of awards issued	$ 3
Compensation cost for unvested awards not recognized	$ 21
Period of recognition for compensation cost for unvested awards not recognized	2 years 7 months 6 days
Performance-based Share Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average fair value of awards granted (in dollars per share) \| $ / shares	$ 8.67
Fair value of awards issued	$ 0
Compensation cost for unvested awards not recognized	$ 25
Period of recognition for compensation cost for unvested awards not recognized	2 years

Segment, Geographic and Other Revenue Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment, Geographic and Other Revenue Information

2. Segment, Geographic and Other Revenue Information

The Company operates in a single operating and reportable segment for all periods presented and the CEO has been identified as the chief operating decision maker (“CODM”). The CODM uses income from operations to measure the profitability of the segment. These amounts are reported on the Condensed Consolidated Statements of Operations. The measure of segment assets is reported on the Condensed Consolidated Balance Sheets as total consolidated assets.

The financial data provided to the CODM is as follows:


	Three Months Ended March 31,
	2025		2024
US:
SUBLOCADE	$	163	$	168
Sublingual & other	54		63

PERSERIS1	4		11
Total U.S.	222		241
Rest of World	44		42
Net revenue	266		284
Cost of sales	44		38
Gross profit	221		246

Operating expenses:
Selling and marketing	67		67
Administrative and general	65		77
Total selling, general and administrative	132		143
Research and development	22		28

Litigation settlement	1		—

Total operating expenses	156		171

Operating income	66		75

Other income and expenses:
Interest income	4		7
Interest expense	(12)		(9)
Income before income taxes	59		73

Income tax expense	(11)		(11)

Net income	$	47	$	61

*Total SUBLOCADE net revenue	$	176	179

1Marketing and promotion activities for PERSERIS were discontinued in July 2024.

- 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.

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+ Details

Segment, Geographic and Other Revenue Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Financial Data Provided to the CODM

The financial data provided to the CODM is as follows:


	Three Months Ended March 31,
	2025		2024
US:
SUBLOCADE	$	163	$	168
Sublingual & other	54		63

PERSERIS1	4		11
Total U.S.	222		241
Rest of World	44		42
Net revenue	266		284
Cost of sales	44		38
Gross profit	221		246

Operating expenses:
Selling and marketing	67		67
Administrative and general	65		77
Total selling, general and administrative	132		143
Research and development	22		28

Litigation settlement	1		—

Total operating expenses	156		171

Operating income	66		75

Other income and expenses:
Interest income	4		7
Interest expense	(12)		(9)
Income before income taxes	59		73

Income tax expense	(11)		(11)

Net income	$	47	$	61

*Total SUBLOCADE net revenue	$	176	179

1Marketing and promotion activities for PERSERIS were discontinued in July 2024.

Debt	3 Months Ended
Debt	Mar. 31, 2025
Debt Disclosure [Abstract]
Debt	8. Debt The Company has a note purchase agreement with an original principal amount of $350 million and a committed revolving credit facility of $50 million, both of which mature in November 2030. None of the $50 million revolving credit facility has been utilized. The outstanding balance of the note purchase agreement of $346 million and $350 million as of March 31, 2025 and December 31, 2024, respectively, is secured by substantially all of the assets of subsidiaries of the Company, primarily in the form of guarantees issued by respective subsidiaries. Interest expense was $9 million and $7 million for the three months ended March 31, 2025 and March 31, 2024, respectively. The Company was in compliance with all debt covenants at March 31, 2025.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Share-Based Payments - Share Award Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2025 shares
Service-Based Restricted Share Awards
Share Awards
Beginning Balance	1,036
Granted	1,773
Issued	(193)
Canceled/forfeited/adjusted	(176)
Ending Balance	2,440
Performance-based Share Awards
Share Awards
Beginning Balance	4,717
Granted	1,582
Issued	(286)
Canceled/forfeited/adjusted	(1,555)
Ending Balance	4,459