As previously disclosed in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, 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.


	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


	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)


	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